Break out of sideways consolidation after price action tightening of late.
Significant Increase of volume on the 16th of July indicates a confirmation.
Back testing displays that the price has moved up significantly after a similar consolidation in previous years.
Price now above all significant EMA's.
Entry - .725
Positive divergence on the OBV and MACD displays buying during decreasing SP.
Cup pattern with volume on the increasing SP.
Moving averages now all displaying positive indicators.
Broken out of any last downward trend.
Appears that 5GN is respecting its current trading channel while also once again providing a buying opportunity by the support of the 50MA. The current price is also under the recent Institutional Placement at $1.80.
Looks to have found the bottom here with buyers accumulating. Positive divergence on the OBV.
Announcement of their first commercial deal could be the catalyst for a breakout. Buyers seemed to be waiting due to the previous likelihood of a CR. Now that further funds have been acquired this will force buyers to purchase on market.