As I see it, the stock is consolidating after the December 31st break-out, which it can be expected before it tackles resistance at 20.
Today it opened on a small up-gap to 17 5/8 on volume of 7,800 for the first 5 minutes. If you look at the 5 minutes chart, you can see that on the next 5 minutes it came down to 17 on volume of 17,500.
It made a temporary intra-day double bottom at 15 7/8 at 11.15 AM and 11.20AM, and later a temporary intra-day double top at 16 7/8 at 1.05PM and 1.15PM.
After that it remained below the 16.875 area for the next 2 hrs. until it was brought down to 16 1/4 on volume of 20,100 at 3.35PM and to 16 1/16 at 3.40PM on volume of 11,400.
If you sort of "zoom in" time wise and look at the one min.chart towards the close, you can notice that there was an uptick from 16.187 up to 16.437 at 3.45PM on volume of 10,500 and another up-tick from 16.312 to 16.437 on volume of 10,700 at 3.50PM (These two were the largest one minute volumes in the last 1/2 hr.of trading.
If you look at the daily chart, you can notice that today's volume of 788,700 although higher than the 654,700 of Dec31, it was still much lower than up-volume days of Nov.24 (2,930,100) and Nov.26(846,900).
While on the daily chart you can also see that the stock could come down to 15 1/16 and still remain with an intact up-trend. IMHO I don't think it will test that level and should be trading close to 20 by the end of the week.
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