After a monstrous 160% increase in the last quarter, price reached 2,618 fib.
No need to chase here, even after the run was backed by super volume . Last week's bearish wick almost erased, but the volume was 1/3 less. Nice base areas little above 7 and little lower than 6$ in the daily chart , may provide an entry if intraday or day PA show buying pressure.
Long term view is a beauty. A break upwards from a 6 years old base, more often than not, hints at a lot of upside in the future.
Needs to cool down a bit, revisit 10MA or even 30MA, and build a healthy come back towards the 75-55$ highs of 2007
Earnings report May 13th
Cheers
Panos
No need to chase here, even after the run was backed by super volume . Last week's bearish wick almost erased, but the volume was 1/3 less. Nice base areas little above 7 and little lower than 6$ in the daily chart , may provide an entry if intraday or day PA show buying pressure.
Long term view is a beauty. A break upwards from a 6 years old base, more often than not, hints at a lot of upside in the future.
Needs to cool down a bit, revisit 10MA or even 30MA, and build a healthy come back towards the 75-55$ highs of 2007
Earnings report May 13th
Cheers
Panos
