>> - the worst of all reasons to buy an unknown small cap stock.
However, it is always darkest before the dawn and I'm inclined to take chances.<<
Well, I read the Worden reports, I looked at the charts, and today it went up just shy of a point, (+.812) on strong volume (735,000).
We went through some resistance at about 5.75, next level of resistance is 7.437, (which in my opinion it is crucial we brake it), plus we should also take out the recent high of 6.75, (we almost did today, but heavy selling set in, before closing at 6.375), from there, we may try for the 12 month high of 9.625.
Watching the trades. it seems to me that there seems to be heavy accumulation, in agreement to what the Worden report indicates.
According to DMI and ADX, we have an established uptrend and seems to be strong.
Remember that all this TA Voodoo is all relative, news (positive or negative), could render all of the above irrelevant.
I have entered a position a couple of days ago or so, and I tend to be a trader upon the first sign of hesitation.
All of the above is strictly my opinion, no advice is given, as I am not qualified to do so.
My opinion of TA is based on how I interpret the charts, such opinion, in terms of charts, is like mountain weather, it can change every five minutes (or less).
In addition, we crossed the 90 day MA (13 weeks), and then retraced to the same MA and bounced up to current levels.
If there is no fraud behind this issue, there may be some value here and a relatively fair opportunity for quick a gain.
Only my opinion.
Z.
"Before the beginning of great brilliance, there must be chaos".
- I Ching |
