Weekly chart imminent breakoutOn the weekly chart (close), a close on Friday above yesterday's sp will represent a bullish breakout from the diamond consolidation pattern of the last 5 months. QIPT, as usual, is a stock that performing like a spring with too much coil compression. Further comfirmation that it is just a matter of time before pure momentum performance will wake investors up, and volumes improve.
Isn't it interesting that in the last 3 minutes yesterday of trading the sp fell from 7.92 to 7.76. Someone is trying their best to continue to suppress the stock, but I doubt this will happen for much longer. Stock is almost at the apex of the diamond on both weekly and daily charts. This has too much fundmental momentum to fail technically IMO....proof will be in the pudding.
I would not want to be out of this name for the next 8 weeks at least...