How the price action of Range Resources (RRC) is used to our Advantage

May 10, 2022, 14:45 pm ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Range Resources (NYSE: RRC) data table below can help you with price action, and we have more details too. Trading plans for RRC are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for RRC

• Buy RRC slightly over 22.99 target 27.57 stop loss @ 22.92 Details

The technical summary data tells us to buy RRC near 22.99 with an upside target of 27.57. This data also tells us to set a stop loss @ 22.92 to protect against excessive loss in case the stock begins to move against the trade. 22.99 is the first level of support below 26.375 , and by rule, any test of support is a buy signal. In this case, support 22.99 would be being tested, so a buy signal would exist.

• Short RRC under 27.57, target 22.99, stop loss @ 27.65 Details

The technical summary data is suggesting a short of RRC as it gets near 27.57 with a downside target of 22.99. We should have a stop loss in place at 27.65though. 27.57 is the first level of resistance above 26.375, and by rule, any test of resistance is a short signal. In this case, if resistance 27.57 is being tested, so a short signal would exist.

Swing Trading Plans for RRC

• Buy RRC slightly over 27.57, target 28.35, Stop Loss @ 27.49 Details

If 27.57 begins to break higher, the technical summary data tells us to buy RRC just slightly over 27.57, with an upside target of 28.35. The data also tells us to set a stop loss @ 27.49 in case the stock turns against the trade. 27.57 is the first level of resistance above 26.375, and by rule, any break above resistance is a buy signal. In this case, 27.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short RRC near 27.57, target 22.99, Stop Loss @ 27.65. Details

The technical summary data is suggesting a short of RRC if it tests 27.57 with a downside target of 22.99. We should have a stop loss in place at 27.65 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 27.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for RRC

• Buy RRC slightly over 26.87, target 27.57, Stop Loss @ 26.81 Details

If 26.87 begins to break higher, the technical summary data tells us to buy RRC just slightly over 26.87, with an upside target of 27.57. The data also tells us to set a stop loss @ 26.81 in case the stock turns against the trade. 26.87 is the first level of resistance above 26.375, and by rule, any break above resistance is a buy signal. In this case, 26.87, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short RRC near 26.87, target 22.99, Stop Loss @ 26.93. Details

The technical summary data is suggesting a short of RRC if it tests 26.87 with a downside target of 22.99. We should have a stop loss in place at 26.93 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 26.87, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

RRC Ratings for May 10:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	22.99
P2	26.87	28.35	27.57
P3	29.06	31.02	32.31

Support and Resistance Plot Chart for RRC

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