Boy, I know I have a winner here when I start talking to myself...Ok, here is the scoop on this one....We have an established trend here....We have 437,400 shares of overhead at the 3.06 area....I figure our next attack at this level will penetrate...We have attacked twice and failed...Many times it takes three times to attack a resistance area before we worm through....I see the stock moving to my initial short-term target of 3.31-3.37, where we will have some difficulty...I have pegged there 921,000 shares of overhead....However, there is also a slight problem at the 3.50-3.62 level, a mere 852,600 shares of overhead....So, we move to the 3.30 area first, and if volume deteriorates, we go to a trading range for a while in the 2.89-3.31 area....Of course, I am optimistic that the volume has been building and will continue to do so...Here are three of my favorite trend indicators:
Smoothed Rate of Change: 105,109,114,117,120
MACD: 0.019, 0.054, 0.076, 0.093, 0.114, 0.145
+D1: 31,29,29,34
ADX: 20,21,22,23
-D1: 15,16,15,14
Volume has been picking up:
50 day=44,854
20 day=55,215
10 day=84,760
Not being a fundamental trader, I would say something good is brewing in this company that will be revealed to us soon....Take care, Mark |
