After shedding more than one-third of its value since March 2012, troubled bank RBS is breaking once more to the upside, says Ragu Dharmaratnam of Baselica Ltd.
Momentum is improving, such that the monthly RSI reading is above neutral for the first time for more than three years. Once the long-term line of support and resistance at 305p is taken out, traders could go long, targeting a move to 380p and placing a stop-loss at 275p.
