RE: Tight trading range, Rising volume ...If I may, I would like to offer some insight as to what may happen with ADX from a pattern recognition method of T/A. Although I am just becoming familiar with this myself, I will do my best to explain.
As I mentioned last night, we are currently forming a flag/pennant pattern. This is defined as:
"... a period of congestion, less than four weeks in duration, which forms after a sharp, near vertical, change in price (as we experienced 2 weeks ago). The upper and lower boundary lines of the pattern are parallel, though both may slant up, down, or sideways. In an uptrend, the pattern resembles a Flag flying from a mast, hence the name. Flags are also called Measuring or Half Mast Patterns because they tend to form at the midpoint of the rally or reaction. Volume tends to diminish during the formation (as it has been), and increase on the breakout."
Based on this, once volume picks up we should see a rally to the $2.30 area where we will meet resistance. If it goes beyond that, I'm not sure how high we could go but we may possibly retest previous highs if the interest is strong enough to break through the resistance.
These patterns of consolidation are regarded as among the most dependable of chart formations. However, if a breakout does not occur in the next 2 weeks it may fall to our lower support levels as a flag pattern is only reliable for 3 to 4 weeks.
Personally, I bought more today @ $1.56 and am ready to fill the boat when I see a breakout starting.
This of course is all IMHO. Hope this helps
Swampdonkey
BTW, Vitalsigns, I remember seeing you a few months back in the TRP forum. I hope you stuck it out with TCPL since then, about a 30% increase over the last few months not including the 7-8% dividend.