hourly charts revealing that RSI and MACD failing to make new lows with price recently, bears are losing their grip on price action. daily chart, golden cross imminent. 200 day moving average now upward sloping. Jan resistance now acting as support, tested today and holding. volume decresing on this consolidation last 10-11 days or so. RSI finding support at 50 and stochastic turning bullish. MACD signal line (using Pring's longer term entry/exit parameters of 65,90,12) is about to cross above the 0 line. This is a major BUY indicator that technicians will use to establish long term positions. I expect price to test and break .82 next week. Today will be one of the last days to buy this stock under $1. This is a very complex bottoming pattern that has taken a year and a half. This base will provide the ammo for price to rise to unprecedented levels in a short period of time. Just look at the volume on the daily chart going back about a year. Very easy to see that smart money has been accumulating and dumb money has been selling. I'm long and added this morning
very nice post. it appears the stock bottomed shortly after your comments. big volume buys this afternoon. I'm guessing just a small % of investors here are sure the bottom is in place, or more would be flowing in. I thiink once price gets comfortable above recent highs, we'll see the big boys slapping the bid all day long. Upside risk here is enormous. downside? well, the dips will certainly be shallow and short-lived.