Checking Sharescope this evening, I've noticed that Real Good Food Group (AIM: RGD) appears to have broken above the resistance line, marking the lower highs of recent weeks. Could it be that it will repeat the pattern of the period between 19th May and 3rd June? During that time, the shareprice rose by about 50% in a few days. Looking at the graph (see below), it might be about to repeat the same pattern.
The 8 day (fast) ADX appears to be giving a buy signal. The only slightly worrying aspect is the fact that the shareprice is well above the current 200 day moving average. Is this a true breakout or a false one? Only time will tell. Will RGD go up again in the next two or three weeks or back down towards the 200 day moving average? What do you think?
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