End of Day TAA tighter trading channel now for this play with the MA50 at 1.095 and the EMA20 at 1.28
The intraday chart had one attempt mid day to try to break above resistance but failed and cause any traders still holding a position to unload their shares.
Today's candle does not fair well for Monday's open and unless there is something significant over the weekend re: a nr, expect a small gap downward to open the trading day come Monday.
RSI is at 46.5 and pointing down, failing to break through a significant 50 barrier.
MACD still pointing down and Full Sto is neutral at this time.
The smart trader is still in a cash position watching from the sidelines.
Although the volumes are substantial, they are still considerably smaller from the past recent trading, showing that the interest in this play is slowly fading.
The $1.16 close is now only 7 cents from support and the MM's know with not too much pressure they can attack this support line and cause a sell off of this play which could easily take it right down to the .80's in short order.
A tight flag formation is showing that this stock is getting ready to break one way or the other.
Today's indicators suggest downward.
If I were holding this play, I would be seriously hoping for some great news to present itself before the opening on Monday, or expect to watch my profits disappear in short order.
Happy Trading all,
Mediascan