I looked at the list of stocks at all-time highs (ATH) on Friday and found this recent IPO that looks promising. Any IPO that falls for weeks, forms a bottom, and then rebounds to an ATH is worth my researching. According to TC2000, recent earnings were up +625%.
For my students who are learning stage analysis, I provide this weekly chart of RHT, which looks like it is forming a Stage 3 and maybe Stage 4. RHT has the type of technical pattern one should not trade on the long side. Note the GLB failure and the above average volume on down weeks. RHT was a terrific stock to own while it remained in a Stage 2 up-trend for over a year.
