RDGT Pushes Higher as $4.04 Level Turns Pivot
$RIDGETECH Inc(RDGT)$
RidgeTech Inc.(RDGT) Climbs +3.32%: Low Volume Breakout Tests $4.04 Resistance, Momentum Building
Latest Close Data
RDGT closed at $4.04 (+3.32%) on December 15th, breaking through the $4.04 resistance level established on December 12th.
The stock is now 20.3% below its 52-week high of $5.07, showing recovery potential from its $0.72 low.
Core Market Drivers
Ultra-low trading volume of 2.69K shares with minimal institutional flow ($3.64K inflow vs $3.82K outflow) suggests controlled accumulation.
The company maintains strong fundamentals with a low P/E of 2.197 and P/S ratio of 0.35, indicating potential undervaluation despite negative ROE of -6.62%.
Technical Analysis
RSI(6) at 55.28 shows neutral momentum with room for upside, while RSI(12) at 58.39 indicates strengthening bullish sentiment.
MACD remains in bearish territory at -0.211, but the narrowing gap between DIF (0.321) and DEA (0.426) suggests potential reversal.
KDJ shows strong momentum with K-line at 50.39 crossing above D-line at 37.78.
Key Price Levels
Primary Support: $3.65 (December 12th low)
Strong Resistance: $4.04 (just breached, now pivot)
Immediate Target: $4.50-$4.80 range
Valuation Perspective
With P/E TTM of 2.197 and P/S of 0.35, RDGT trades at significant discount to technology sector averages.
EPS TTM of $1.84 provides solid earnings foundation despite current negative ROE.
Weekly Outlook
Expect consolidation in $3.90-$4.20 range with potential breakout above $4.20 targeting $4.50.
Low volume suggests limited downside risk, but breakthrough needs volume confirmation for sustained rally.
Risk Disclaimer
This analysis is for informational purposes only and should not be considered as investment advice. Please conduct your own research and consult with financial professionals before making investment decisions.
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