On Friday we broke through the 10DMA resistance and tested the 23.6 Fib. retracement a couple times (check the 5min chart). I believe we can get through this level though, as volume has begun to pick up and RSI and MAs have started using 45 as support instead of resistance indicating a change from bear to bull trend.
MACD also has given us a nice signal by crossing up over the zero-line after the signal line cross did a good job marking the bottom in this case. Histogram is now opening up bullishly as well.
Also broke out from a 5 day rectangular consolidation channel on Friday (orange)
Target: $6.78
Stop: $5.34
MACD also has given us a nice signal by crossing up over the zero-line after the signal line cross did a good job marking the bottom in this case. Histogram is now opening up bullishly as well.
Also broke out from a 5 day rectangular consolidation channel on Friday (orange)
Target: $6.78
Stop: $5.34