Price recently broke above the daily 200MA after steadily rising out of 2018's falling wedge. Bollinger bands are tightening. I would monitor that in the short term for the next break upward. Absent negative news, the company's fundamentals give this stock a strong reason to run up on these bullish signals (cash position of roughly $40M and assets of $105M total against a $125M market cap at current price).
If opening a position at current levels, I would target $0.80, $1.04 and $1.21 for profit taking with a trailing stop loss at the daily 200MA.
Usual disclaimer that I'm just a guy on the internet and this isn't a recommendation to Buy or Sell a stock. Posting this to put my analysis to the test.
If opening a position at current levels, I would target $0.80, $1.04 and $1.21 for profit taking with a trailing stop loss at the daily 200MA.
Usual disclaimer that I'm just a guy on the internet and this isn't a recommendation to Buy or Sell a stock. Posting this to put my analysis to the test.
Trade closed: target reached:
Targets were reached in April. Just dropping by to close this off.