[ksarkar77]

I saw you where looking at BDC in the internet sector (not a really favored sector yet , #10 in my ranking of 40 sectors).
There is another ticker that is on my watchlist in that sector though. It is RAX. I think it had a first breakout near 40 (stage 2A) and is keeping up well in this volatile market.

I also like the 1BR (1 box reversal) and 3BR (3 box reversal) chart. I think there is quite some overhead resistance near $52 (see 1BR chart P&F, 'looking left' ). On the 3BR chart, the price broke through the BRL (bearish resistance line, blue dotted line coming down in a 45° slope, it acts like a brick wall on P&F charts!)


On the weekly Chartmill chart, RS is picking up and there was volume at the breakout near $40.

I would hope to get in after a pull back but a first position near $49 is another possibility.
Any other thoughts about RAX on the forum?

Few problems I am noticing:

1. There is a heavy resistance around 54 area. Unless it clears with heavy volume, I would still consider it in Stage 1

2. The industry is Dow Jones Internet Services ($DJUSNS). Industry is now under performing compared to S&P.