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May 10, 2006
Radio Shack Rises from the Dead
While Best Buy (BBY) went from 44 to 59 this year, Radio Shack (RSH) went from 23 to 17. Even though BBY is winning the battle (and the war), RSH finally shows some signs of life with a long white candlestick on the highest volume since February. The stock established support around 17 in late April and early May. The move above 18 broke trendline resistance and reinforces support. Notice that Chaikin Money Flow moved close to positive territory in early April and remained near the zero line over the last six weeks. Despite the decline from 20 to 17, selling pressure was quite mild according to Chaikin and the indicator turned positive on Tuesday.
Posted by Arthur B. Hill at May 10, 2006 07:06 AM