52W Falling Wedge
$SIRC Big picture view. A 52 Week Falling Wedge. Potential exit points are as follows. Would require the week to close above:
1. .3998 for week of Apr 11
2. .3868 for week of Apr 25
3. .3738 for week of May 09
4. .3598 for week of May 23
Wedge closes week of Aug 29 around .27
This pattern does have bullish bias once it breaks.
1. .3998 for week of Apr 11
2. .3868 for week of Apr 25
3. .3738 for week of May 09
4. .3598 for week of May 23
Wedge closes week of Aug 29 around .27
This pattern does have bullish bias once it breaks.
Comment:
Still bound to wedge. For this week, a close above .38 is needed to break out (~20% rise). Q1 Earnings should be out by Monday May 16. This could be the catalyst needed to break out. Other catalysts that could happen any day include the long awaited QB uplisting and Arbiter Bank loan ($42M).