Here’s my trade idea on Rush Street ($RSI) – February 12, 2025
Dan Fitzpatrick here at StockMarketMentor.com. I want to go over RSI, Rush Street ( NYSE: RSI ).
I talked about this stock this morning when I was talking to Janet Alvarez on SiriusXM Biz Radio. I mentioned Rush Street ( NYSE: RSI ), it is an online gambling company. It has awesome fundamentals, really, really strong fundamentals. It hasn’t been trading that long, just for a few years.
Look at how this thing has come out and really, really formed a deep cup, a long base, a multi-year base, and now this is running higher again. It’s a cheap stock so you can trade it like a millionaire, $15.00, 15.50 a share. So this is what we did, I’m just letting you know what my logic is on this.
The stock’s held at the 50, so therefore, when I look at this I see when a stock holds at the 50-day moving average, then it looks like that presents a decent buying opportunity. That is the case here. If I’d been focused on it a couple of days ago, well actually I was focused on it. I saw this the other day, I just didn’t pull the trigger for our members. I put it on the Active Trade List today, a little bit lower than where it is now.
We’re up 2.5 percent on it just today. Ideally, you see something like this, if you’re watching it, if you’re looking for this to hold, and it does here. It’s tough to buy it with this choppy thing, but then, boom, one more day, that’s confirmation. Two days in a row, heavier than average volume.
Pretty decent closing locations, meaning near the high of the intraday range. And then finally today, a total continuation of this. This is a stock that I put on the list today. Frankly, I think it’s still buyable. If you are just looking at this stock now, or after hours, maybe it will pull back. Maybe it will give you another chance to get it at a little bit lower price, something like that.
This is a trade I think you can be making, just maybe wait for a little better entry. It is up over the last three days, almost 10 percent, and that’s a big move in just a short period of time. I like the squeeze, I like the setup. The fundamentals are monstrous, there’s nothing wrong with this stock.
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