As was anticipated, $0.77 hit and breached on RXP. Interestingly this closed a gap and closed all the way back at $0.80. So we have high spread and high volume. Perhaps a shakeout/sign of strength? But given the down trend, I am not so confident. I was thinking the sellers were exhausted over the past couple of trading days with low spread low volume and thought the $0.77 would be touched with the upcoming dividend of $0.015 on 15th of March. So to confirm today as a sign of strength, do I want to see price accelerate upwards from this level, potentially with a gap up tomorrow and look to enter above the $0.83 resistance? Or is it preferable to see a test over the coming days to confirm sellers are exhausted and then buy on a positive response to the test, again over the $0.83 resistance? Would we potentially have a supply vacuum?
