Looks like 9.90 has gone from resistance to support. Good launching pad. From May 19th - June 5th 9.90-10.05 has been very strong resistance being touched and sent back down several times. Now that it has been cleared it will serve as strong support for the next leg up to 11.16.
The risk reward for short sellers looks terrible with the given trends. I see the first resistance point coming at around $10.47 where a gap in recent price action occurred. If volume is strong, it could easily continue to 11.13 and possibly 12.13ish.
Each day comes with a higher low. Bollinger bands are also tightening preparing for a break to the up side. The triangle is tightening preparing for the big move up.
A nice triangle pattern seems to be forming. There's a static resistance at 9.89 that has been hit several times over the past few days, and an upward sloping support line (higher lows). This indicates the sellers are slowly being pushed out. The short float is at 23% which indicates we could see a short squeeze very soon. I expect a breakout in the next few days...
