I'm going to call it a day, it's 9AM PST and we're fine, if you're going to try and sneak out to a Cubs game, then darn it, I'm going surfing, later :o)
Regarding resistance at $30, I'm just missing it, because I don't see too much there to bother us. I do think the 100 day ma at $30 5/8 and the 200 day ma at $31 3/8 will pose some resistance, especially the 200 day ma.
However, just like you said, once we get through this area of resistance, whatever it might be, we are off to the races. Your $2-3 pop seems very reasonable to me as well, and that puts us in the front seat of a fast moving vehicle.
10 day ma about ready to cross over through 30 day ma, crossovers have been fairly reliable indicators of price movement. I'm happy to say this stock is ahead of my timetable, and that is very encouraging because it means I underestimated it's potential.
Remember not so long ago we were all looking for a bottom, HAHA? I consider the opportunity to buy shares at $26 5/8, right near the bottom, pretty good justification for the use of technical indicators. Especially since as we're about to find out, the underlying fundamental picture of the company hasn't changed, except for getting better than it already was.
I'll cheer the Cubs today, you pray for some surf :o)
Regards, JB
P.S. I expect volume to be good today, if so it would fully confirm the uptrend. |
