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FWIW - I think ISO's TA assessment is sound, based on the daily chart - PVO (12,26,9) MACD (12,26,9) Full STO (20,10, 5) are all overbought and trending down, 5DMA is trending down, money flow is declining. The 200 DMA is providing support at $3.81. BQI is trading well above the 50 DMA at $3.01.
The long-term downtrend was recently broken to the upside at $3.09, if the 200 DMA is broken then the scenario of a fibonacci retracement (FB)(38% 50% 68%) is reasonable. Below $3.81 - the $3.20 range $3.56 is the next support level, which fits in with the FB.
A cross-up of the 50 DMA over the 200 DMA would be a long trem bullish indicator and confirm the change in the long term trend from bearish to bullish, a break below $3.09 would be bearish.
Just my two cents. Is the short interest increasing or decreasing these days? |
