I reviewed the charts of Rain Oncology (RAIN) on January 5 and recommended that "RAIN shares may continue to trade sideways for a bit longer but further strength is likely in the weeks ahead. Traders could go long RAIN on strength above $9, looking for gains to the $17 area. Risk to $6."
Let's check the charts again.
In this daily bar chart of RAIN, below, I can see that the price of RAIN surged higher in early January and then moved sideways around the past four weeks. RAIN is trading above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line continues to rise telling me that buyers of RAIN are still more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator has been weakening but remains above the zero line.