Tech Analysis: Tide Has Turned, Support Building
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Posted On: 04/09/2017 6:14:25 PM
Tech Analysis: Tide Has Turned, Support Building
This was a very interesting week, not only in terms of what the PPS has done (jumped > 85%), but in terms of support and it's potential to go higher.
I like to look at weekly charts, as they tend to reveal more long-term trends. Here's what I noticed:
Parabolic SAR
When the PSAR indicator drops below the stock price, it indicates a buying opportunity. The Parabolic SAR flipped last week. Since late November 2014, it flipped a total of 5 times (including this week). So, while this is nice, it's not extremely impressive.
5/10/20-Day Moving Averages (DMAs)
More impressive, though, is that last week the 5DMA (.034) moved above the 10 and 20 DMAs, the latter two are both currently at .029. This is a stronger buying signal. Since Nov. 2014, this only happened twice--in March 2016 and last week.
CMF (Chaikin Money Flow)
The CMF measures the buying and selling interest in a stock. A bullish signal occurs when it crosses above the Zero Line. Investors/traders consider this a helpful signal, as they want to buy into support and sell into resistance. Since Nov. 2014, it crossed above the Zero Line only once, which was last week.
Ichimoku Cloud
Since Nov. 2014, we haven't risen above the weekly Ichimoku Cloud--not even once. We lightly penetrated it in March 2106 (last year's biggest run-up), but never broke through the top. Since then, we haven't even come close to touching it, except for last week--we touched the bottom of it. Most on this board know that dilution has weighed heavily on this stock since late 2014. Now that it's behind us, we actually have a chance to break through the Ichimoku Cloud. The first important test is if we can break .07 this week, which is the bottom of the cloud. The top of it, btw, is at .20. If we break through that, it's blue skies ahead.
Good luck to all longs!
This was a very interesting week, not only in terms of what the PPS has done (jumped > 85%), but in terms of support and it's potential to go higher.
I like to look at weekly charts, as they tend to reveal more long-term trends. Here's what I noticed:
Parabolic SAR
When the PSAR indicator drops below the stock price, it indicates a buying opportunity. The Parabolic SAR flipped last week. Since late November 2014, it flipped a total of 5 times (including this week). So, while this is nice, it's not extremely impressive.
5/10/20-Day Moving Averages (DMAs)
More impressive, though, is that last week the 5DMA (.034) moved above the 10 and 20 DMAs, the latter two are both currently at .029. This is a stronger buying signal. Since Nov. 2014, this only happened twice--in March 2016 and last week.
CMF (Chaikin Money Flow)
The CMF measures the buying and selling interest in a stock. A bullish signal occurs when it crosses above the Zero Line. Investors/traders consider this a helpful signal, as they want to buy into support and sell into resistance. Since Nov. 2014, it crossed above the Zero Line only once, which was last week.
Ichimoku Cloud
Since Nov. 2014, we haven't risen above the weekly Ichimoku Cloud--not even once. We lightly penetrated it in March 2106 (last year's biggest run-up), but never broke through the top. Since then, we haven't even come close to touching it, except for last week--we touched the bottom of it. Most on this board know that dilution has weighed heavily on this stock since late 2014. Now that it's behind us, we actually have a chance to break through the Ichimoku Cloud. The first important test is if we can break .07 this week, which is the bottom of the cloud. The top of it, btw, is at .20. If we break through that, it's blue skies ahead.
Good luck to all longs!
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