RE: chartOn the 21st, the Bollinger Bands tightened right up which indicates the stock is ready to move one way or the other.
RSI has been creeping up very slowly and is basically sitting at 30 right now. An RSI can go as high as 90 before it needs a breather which means there is plenty of room for an exponential increase from this level.
The candles show that after a base of .07 was established after the news, .085 established itself as a bottom and recently .09. The candles are not really showing any direction, just showing a very tight trading range.
MACD crossed over and up on the 15th and has slowly been gaining strength. Again, lots of room for a large move to the upside.
Full Sto sitting at 55 and can go to 90 on a bullish run.
Fib lines show resistance at .25, .31 and .37 on good news as I stated in my previous post.
MA 200 sits at .23 and MA 50 sits at .25, adding to the confirmation of the first resistance point.
Approximately 70 million shares have been traded in the .09 to .10 range, so unless people start wanting to trade to themselves, the stock will have to do something fairly soon.
If I were to make a calculated guess on the charts if we get the news we need, then I would say we hit the .21 to .25 range, settle back to the .18 to .14 range before testing the upper resistance levels going forward.
If the company blows this opportunity to get its ducks back in order, so to speak, well, not much will need to be said at that point.
Happy Trading all,
Mediascan