Dismal Science Back to life
Technical analysis is close to what quackery is in Medicine, sometimes it works and sometimes it does not. This time our short term "prediction" came true.It was only yesterday that we pointed out that the 5-day chart was forming an ascending triangle, a bullish sign, and that the stock was poised to break to the upside. There was also another formation that someone else pointed out the "reverse hammer" a bullish sign also, which was confirmed today when the stock broke to the upside. Whether the break out is sustainable is anybody's guess. Volume was relatively good in comparison with other days but not exceptional. In any case, the break out is welcome and I am sure everyone is happy.