Daily charts show building momentum (Wm%R), RSI that is non directional and an MACD curve that will hopefully cross and go BULLISH. The one thing I really like to point out is that the stock moved above the 8 day moving average and is trending nicely above it. The 200 Day Moving Average at $3.29 has proven problematic on a closing basis (ie. the stock won't close above it, which is a negative. Any close above that price point would be a HUGE bullish sign from a technical analysis perspective.)
When looking at longer-term trends we can see where the stock has move above the 8 week moving average trend as well.
If Thursday's presentation goes well I think the stock could re-test prices seen in early May.
If Thursday's presentation goes well I think the stock could re-test prices seen in early May.
Dan Ross
Posts
No comments:
Post a Comment