Are the charts suggesting another attempt at a run
Post# of 96891
Posted On: 12/21/2016 5:50:34 PM
Are the charts suggesting another attempt at a run?
The stock is trying to run again, like it did in early December. Unfortunately, the wind was taken out of its sail during the last run, likely because of the subsequent dilution (about 2-3 million shares). But that's now behind us, so let's look at the most recent run:
I noticed a few early, but promising, indicators. I'm not going to bore you with all of them. Instead, here are a couple of highlights:
-- The price broke through the resistance level (.026) today formed by the lower portion of the Ichimoku Cloud. What's interesting about today's penetration is that it's even deeper than the one in early December.
-- The Accumulation/Distribution line is already substantially higher than it was at the peak of the September run (which ran from .0165 - .037). This suggests there's much more buying pressure now than there was in September.
While these are positive signs, the daily PSAR hasn't flipped, yet, which would be a positive indicator. That could change, however, if we break the low .03s this week.
In short, we closed green for four straight days and had a great close today. Hopefully, there will be no more dilution and this run will stick.
Good luck, and happy holidays, longs.
The stock is trying to run again, like it did in early December. Unfortunately, the wind was taken out of its sail during the last run, likely because of the subsequent dilution (about 2-3 million shares). But that's now behind us, so let's look at the most recent run:
I noticed a few early, but promising, indicators. I'm not going to bore you with all of them. Instead, here are a couple of highlights:
-- The price broke through the resistance level (.026) today formed by the lower portion of the Ichimoku Cloud. What's interesting about today's penetration is that it's even deeper than the one in early December.
-- The Accumulation/Distribution line is already substantially higher than it was at the peak of the September run (which ran from .0165 - .037). This suggests there's much more buying pressure now than there was in September.
While these are positive signs, the daily PSAR hasn't flipped, yet, which would be a positive indicator. That could change, however, if we break the low .03s this week.
In short, we closed green for four straight days and had a great close today. Hopefully, there will be no more dilution and this run will stick.
Good luck, and happy holidays, longs.
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