R, Ryder Systems Inc.

r june 2012r june 2012 s

You may want to hold off for a moment to avail yourself of this buying opportunity. The stock has a very clear wedge with all the bells and whistles that has its origin at around $30. Typically such are retraced right down to their base so today’s low of about $35 is still too high.

Looking at the bigger chart, the forth wave of previous degree is at around $17, which is about right for the large A-B-C that is unfolding from the top. However , before we get there there is the $25 level where all lows over the past 30 years connect. $30 may indeed be a good buy for a trade as there the latest two down legs are about equal.