toowit,
I have a number of comments on TA.
Price Action
I didn't a chance to look at the charts last night, but I did a quick glance at it tonight. In the land of TA, support becomes resistance (and vice-versa). In the last run, support was at $1.50. Just before & after it dipped in the third week of March (when I proceeded to add to my position), $1.50 became the resistance line. I think we broke resistance yesterday.
Also, there was a buy signal using the triple crossover method of moving averages yesterday.
Volume is on the rise, and the prices are closing higher than at open.
Oscillators
The MACD line crossed the signal line Mar 30, as did the Momentum line. The Larry Williams %R is steadily making its way out of oversold range, and the RSI and ROC is moving up.
Finally, keeping in mind Stochastics is not my strong suit, there is a bullish divergence in March and a buy signal on Mar 22, the same day we hit a low of ~.88¢.
If you have any comments regarding what I see on the charts, please make sure you voice them! I would like to see another session or two before I can say with more gusto we have an intermediate uptrend (we are still in a major uptrend).
Denise. |
