TA tidbitThe 50 day Basic moving average is currently sitting at $1.50 on the one year chart and is upward sloping and converging with the 200 day MAV at $1.58 (which is flattening after a long and painful decline!)
You have to look back to 2012 and Nov 2015 respectively for the last time that the 50 day MAV was upslope converging and crossing above the 200 day MAV....both of which preceeded or were in concert with very big moves to the upside.
its always nice when technicals are lining up with and supportive of good news flow and i suspect this action will attract technical buying , accelerate short covering and get momentum guys involved as we get an unequivocal buy signal.
Perhaps the Allstrom data can be the catalyst to bring in a high volume breakout . Even in the face of the really questionable and arguably misleading recent updates from both CIBC and NBC analysts who seem to be continuing to talk their customer’s short book. Whatever happened to Compliance and Chinese walls?
As an aside, i am quite amazed how “market informed” a handful of the more vocal consistent bashers are in this bullboard...despite claims
of being retired this or that and TST conscripts....just solidifying for me the fact that they are absolutely part of the coordinated short campaign. Cant wait to see u guys deleted