Having passed through the 200 DMA, you might see the price slow and pullback a bit on low volumes, testing the 200 as a support...sounds textbook, huh. Otherwise, I see the previous runs to the $2.50 - 2.75 range, so you may see people trying to get out even under $3.
Of note, though, is that the volumes are significantly higher, and we're also pulling the common DMAs at this point, vice the 2 previous runs. There is a significant bullish advance on the accumulation/distribution indicatros, decent trends on the oscillators, and the oscillators have not become overbought yet.
I'm in the throes of various momo strategies. I'm getting better at seeing it coming and riding it a bit. Also better at knowing when it's dying off, or when to call it quits. The ultimate idea being to scoop a bit of a profit over a few days. My weekly target is between 10 - 20%. Fairly agressive, but becoming doable. Anyway, what I'd do w/TIII, since I'm thin on the fundies is hop on for a 1/4 point or more, or until I see the momentum give out. If I get a chance to dig a bit to see what the LT potential is, I keep a few freebies.
Good Luck. |
