Technical Summary: This is the debut for RBD on the technicals corner. You would struggle to find a nicer long term chart on the NZX. RBD has found its way to new highs without ever really getting overextended and without giving investors too much volatility. This trend has continued into 2018. The stock along this time has provided 2 or 3 buying opportunities that have been marked on the chart. The most recent of which was a few weeks ago where the stock broke out of a flat base and ran up to previous highs. The stock paused briefly due to selling resistance at these highs but has since powered through – this can only be considered bullish. The stock does look a bit overextended at the current juncture and we would ideally like to see some sort of reset before hopefully pushing back to new highs.
