Long RCKY if it drops back to $10 in Nov 2016
Rocky Brands was in a nice upward channel since after 2008 financial crisis.
It has recently broke the lower bound of the trend line, but formed a bullish BAT. However, in terms of time, it still need to retest the bottom of $10 or consolidates for a while. The bull should be back closer to Nov 2016.
Upside potential should be the lower bound of the upward trendline. which should be around $18.
Let's be patient for this stock to expect for 80% upside.
It has recently broke the lower bound of the trend line, but formed a bullish BAT. However, in terms of time, it still need to retest the bottom of $10 or consolidates for a while. The bull should be back closer to Nov 2016.
Upside potential should be the lower bound of the upward trendline. which should be around $18.
Let's be patient for this stock to expect for 80% upside.
