Rex Intl had a great run in recent weeks and I went on to study the chart again although I don't trade this counter. There was some strong buying after the sell down in March two months back due to the coronavirus and soon, Rex rebounded back very strong and had a good upside. It then touched a supply zone and simmered off as oil was in a whirlwind and was trading very wild. However the selling in Rex wasn't strong and hence the buyers were supporting the stock.
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On the attached screenshot of the daily chart, there were 2 points of re-entries where the signals were the strongest where big players would look to re-buy again and indeed they did because for the past week, Rex shot up high as you can witnessed the breakout and the stock flew to the Top 1 in the Top 30 volume. Although I missed this stock, Rex is a textbook play since the chart is easily readable for trading. From the cob to the ws, it was really an easy stock to trade. The only downside is this counter is tied to oil and it's pretty scary at times.
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Ronald K - Market Psychologist - A Stock Market Opportunist
