RHI is at the beginning of a significant breakdown
Based on the previous analysis in RHI, traders should ensure that their portfolio can handle increased risk from an additional trade. Also check to make sure that RHI increases diversification of your current portfolio. Lastly, smart traders check how a new position relates to not just their account, but the current market action as well. For example, take a look at the S&P 500. Is it moving higher or lower? Has it recently moved through a key resistance or support level? Be sure to match up your trading actions on RHI in relation to the overall market movement.
Right now the custom sentiment levels, measured by Traders For Wealth, indicate an increasingly negative bias toward RHI. In addition, the price action in RHI has been moving down as well. This could be a strong sign of an impending breakdown. Traders should view this as a very bearish trade and make sure it matches up with the overall market, and their current portfolio.
Robert Half International Inc (RHI)
Robert Half International Inc. provides specialized staffing and risk consulting services. The Company’s divisions are Accountemps, Robert Half Finance & Accounting, OfficeTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group and Protiviti. It operates through three segments: temporary and consultant staffing, permanent placement staffing, and risk consulting and internal audit services. The Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources divisions provide professionals in the fields of accounting and finance. Its OfficeTeam specializes in skilled temporary administrative support personnel. Robert Half Technology provides information technology (IT) professionals. Robert Half Legal provides staffing of attorneys and specialized support personnel. The Creative Group provides project staffing in the interactive media, design and marketing fields. Protiviti is a business consulting and internal audit firm.