RE:Stock is still in an upward trendThanks for your insight PUNJABI. Where do you see it going from here? Should we expect it to make it to $3 and above in the near future, or are we looking to bounce off $3 and head down?
Thanks again
PUNJABI wrote: Nasty pull back with about 8 days of declines, but no violations the stock did not come close to SMA 50
RSI signal works most of the time. Very reliable indicator. I have not yet figured out if there is some science behind it or that too many investors act on it and it becomes a reality. It is part of algorithms too.
RSI has made me a lot of money. This is my favorite indicator. At times when I have ignored this indicator, it has cost me the lost opportunity. I have learned to respect this indicator.
The stock has cooled off and is no longer overbought. The pull was nasty because the buying was not broad-based and the low was $2.31. Very few shares traded there. I tried to hit the offer but missed it.
MACD line is turning up towards the trigger line.
During the last declining days some retail investors sold hard. There was institutional profit-taking and risk management. Some sales could be related to the last financing above $2.55.
Buying was mostly institutional. The size of institutional investors increasing. Canaccord dumped hard.