RCI rallies as intraday buyers drive bullish breakout attempt
Rogers Communication (RCI) stock is trading at $33.51, up 1.76% for the session. The price sits above its key short- and medium-term moving averages, indicating strong short-term momentum.
Highlights
- RCI/USD shows a short- to medium-term bullish bias, but faces longer-term bearish pressure below key resistance.
- Strong intraday buying is evident, yet overbought oscillator signals and mixed momentum indicators suggest caution for new upside.
- Price is expected to remain between $32.62 and $34.4 over 2–3 days, with a 67% probability of an upward move if resistance breaks.
Upside signals tested by overbought conditions and mixed oscillators
RCI is trading above the 20-period ($32.96) and 50-period ($32.52) moving averages on the hourly chart, but remains below the 200-period moving average ($36.98) on the daily chart. Immediate support is identified at the Ichimoku Kijun level of $32.94. Momentum indicators present a mixed picture: the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) at 63.29 both signal buying activity, while the Average Directional Index (ADX) is neutral. Both Stochastic RSI and Commodity Channel Index (CCI) are in overbought territory, and Bull/Bear Power highlights intraday buyer dominance. Oscillators, however, show clear divergence, with CCI and Stochastic RSI cautioning against extended upside.
Probable upward movement tempered by breakout and correction risks
Over the next 2–3 trading days, RCI is likely to fluctuate between $32.62 and $34.4. There is a 67% probability of an upward move within this range, while the risk of a downside correction stands at 33%. If the price breaks above resistance, further gains could follow, whereas a move below support would likely trigger renewed selling pressure.
Earlier, analysts noted that Rogers Communications was showing signs of improving bullish momentum, though upside was constrained by technical resistance and overbought signals. The current technical setup reinforces this outlook, with mixed short-term momentum indicators suggesting traders should monitor for a breakout above resistance or a sustained move below support as cues for the next directional move.
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