Trade Ideas Newsletter 04/13/2016

RHI is poised for a contrarian breakout

Based upon the analysis above in RHI, traders should make sure that their portfolio can handle increased risk from a new trade. Also be sure that RHI adds diversification to your current account. Lastly, good traders note how a new addition relates to not just their portfolio but the rest of the market action as well. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Be sure to coincide your trading actions on RHI in relation to the overall market as well.

CHART

Currently the proprietary sentiment levels, analysed by Traders For Wealth, have shown an increasingly negative bias toward RHI. However, the price action in RHI has been moving up in value. This could be a contrarian sign to traders for a potential reversal. Traders should view this as a bullish contrarian trade and make sure it aligns with the market and their portfolio.

Robert Half International Inc (RHI)

Robert Half International Inc. is engaged in providing specialized staffing and risk consulting services. The Company provides staffing and risk consulting services through the divisions: Accountemps, Robert Half Finance & Accounting, OfficeTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group and Protiviti. The Company operates through three segments: temporary and consultant staffing, permanent placement staffing, and risk consulting and internal audit services. The temporary and consultant segment provides specialized staffing in the accounting and finance, administrative and office, information technology, legal, advertising, marketing and Web design fields. The permanent placement segment provides full-time personnel in the accounting, finance, administrative and office, and information technology fields. The risk consulting segment provides business and technology risk consulting and internal audit services.