Entry prices are a comin’

The chart below shows a chart plotting Rockwell Automation’s (ROK:US) stock price on a weekly basis.

It’s making a new lower low, while not making any new ‘higher highs’.

For this particular stock, I’m looking to re-purchase its shares once it reaches some of those oversold milestones that I written often about.

While somewhere around the $248 mark would likely coincide with such an oversold ‘extreme’ moment, there is a “gap” at $201 which needs to be respected, especially if the current downtrend gathers strength.

October 21, 2023

by Rob Zdravevski

rob@karriasset.com.au