A possible reverse trend forming The chart for acuityads has been absolutely abysmal over the last 12 months. There are a few interesting developments unfolding and that an inflection point may be forming for a possible reversal. Of course, all of this can change if year end results are less than stellar but I've made the following technical observation. If we can move pass $3.88 then the chart will indicate that our lows are getting higher than previous lows and our highs are getting higher than our previous highs. If this takes place then I believe this will be the first time this has happened over the last year.
Also, the macd has crossed over the signal line which has happened before but not together with the above observation in the first paragraph. In addition to this, the rsi indicator has moved well past the oversold territory and is now at 52 which is a step in the right direction. We have closed higher than opening in 5 consecutive trading days although the gains in some of these have been small. On the flip side, our volume has been lower in the last 10 trading days relative to a 50 day average. Lastly, we are approaching the 50 day simple moving average which is coincidently $3.88 so this is something else to watch out for.