For those monitoring screen day by dayYou will not see a big jump to $10 or $11 or these crazy numbers of $15 anytime soon.
The charts are indicating a consolidation period. It's going to bounce around the $8-$8.40 range and it's possible to get close to $9 until June 7.
Just to note that people think that the higher the 50MA is moving the more bullish the market is. This is somewhat true but in practice its vice versa. Extremely high readings on a 50-day moving average is a warning that their is a reverse and it will go towards the downside. That's what happened last week.
The shorter the moving average the more you will see a change in the market. As of now the volume trading is lower than the average. 2 mil trading is a very low volume. So conslidation until june 7. I do expect to see some seriously high trading volume before june 7 and after june 7.
This is personal but i don't mind sharing. If people want to know what i do for a living, I'm a lawyer and I do trading. Have many friends who do trading at the banks and a few at fidelity. They give me tips here and there.
Cheers.