Keep an eye on short term trendlines on the daily
Post# of 56323
Posted On: 10/03/2014 2:46:29 PM
Keep an eye on short term trendlines on the daily chart for next week lows/highs. Take a look at the weekly chart for a longer term analysis. Note that PPS is under the SMA 50 (which now becomes resistance) and the next moving average support is the SMA100 at .0277, also note that you have to go all the way back to .031 support on January 6 which puts this support as a likely bounce point.
Also note that RSI (Weekly) is currently in the 40.64 range which is comparable to the 12/23/2013 RSI that triggered the .002 to .1149 high over a period of 8 weeks.
Trend lines on the daily chart show next week Mon - Fri .0463 -.0445 highs so anything over these numbers would bear watching for price action confirmation. I am not providing lows so as to not hurt feelings of those who seem to think TA is unreliable. My only comment there is learn TA or continue watching and checking to see if TA proves out to be accurate or not.
Other factors to consider (a) license (b) politics, local and federal (c) company capitalization as they all play into retail buyer sentiment. Note that retail buyers are accumulating shares as they come into the market showing continued strong retail support.
In particular, watch the RSI as it is a good indicator
Also note that RSI (Weekly) is currently in the 40.64 range which is comparable to the 12/23/2013 RSI that triggered the .002 to .1149 high over a period of 8 weeks.
Trend lines on the daily chart show next week Mon - Fri .0463 -.0445 highs so anything over these numbers would bear watching for price action confirmation. I am not providing lows so as to not hurt feelings of those who seem to think TA is unreliable. My only comment there is learn TA or continue watching and checking to see if TA proves out to be accurate or not.
Other factors to consider (a) license (b) politics, local and federal (c) company capitalization as they all play into retail buyer sentiment. Note that retail buyers are accumulating shares as they come into the market showing continued strong retail support.
In particular, watch the RSI as it is a good indicator
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