Reading ChartsNice price action past 2 weeks and lots of enthusiasm Are we over extended here or still have a room to run up the price ? Let’s look at the charts
Daily Chart The Good: Very nice Up-trending Channel. We are trending above 5/9 days EMAs . Stochastics moving higher and momentum (TSI) is growing
The Bad: Well, nothing really. Except some warning signs. CCI is curling lower indicating some weakness is coming. In last 7 business days CCI was moving lower with price still going higher. This is negative Divergence that could be temporary and create some buying opportunities or it could be start of something like retracement. Remember, stock quadrupled since end of October. Short term support on EMAs – 0.56/0.52 and Kama at 0.49.
Pay attention to Kama and TSI. Price moving bellow Kama with Loosing momentum should be a Sell Signal for everyone who likes making money and is NOT a believer.
Happy Trading