The charts are turning positive. I know there hasn't been much to celebrate from a chartist's perspective, but there are a handful of indicators worth watching now. Here are some positive swings that are showing up on the daily chart over the past two days:
- We closed above the 50-day moving average.
- The MACD rose above the signal line.
- The PSAR flipped in a positive direction.
- We broke through resistance at the bottom of the Ichimoku Cloud.
- We broke through the upper bollinger band after some consolidation.
- The ADX +/- turned positive.
- The 5-day moving average climbed above the 10- and 20-day MAs.
All of these are positive buying signals. And that there are so many of them occurring in such a short amount of time confirms the potential for an upswing.
Now, if NTEK doesn't dilute any more shares, we might get the run we've been waiting for.
Good luck longs!