300,000 shares crossed: RBC world marketsSXL still trending within the triangle. Majority of the volume today from RBC World Markets with a 300,000 share cross. Volume still weak. Appears to be a simulated capitulation event as the price trends towards the end of the triangle. 4 month pennant nearing it's peak, suggesting a bullish event is likely.
What to watch for this week:
- A close of 0.02 confirms pennant has been broken to the downside with next level of support at 0.015
- A close of 0.035 or higher confirms pennant has been broken to the upside with next level of resistance at 0.06
- Block trades by Northern Securities or Haywood Securities, as they are the market makers for this stock.
Josh