Well, may have broken out, at last?
Switched to a 100-day chart and added my equivalent trend lines so I could actually see some detail.
It seems that we have closed at or above the descending resistance three consecutive days. The last candlestick however shows a "spinning top", as my best assessment, indicating uncertainty. Can't tell any future direction from it.
The oscilltors I watch have started a generally improving movement, but very short-term so far: RSI slightly, MFI and money flow a little stronger, momentum above neutral & slightly rising, full stochastic out of oversold and rising third day, and ADX and related just strting to show improvement.
Volume has made the "cupping pattern" and risen the last three days (when we were at/above that descending resistance.
I don't expect a "pop", but a slow grind higher seems likely.
We are approaching the 50-day SMA and "pushing" the upper Bollinger limit though. I expect we'll see some pause at one or both of these points. Might result, over time, in a shallow cup and handle, a bullish indicator if it completes.
I don't have any target in mind yet - too early for me (although in the past I did think about a couple around $0.8x, $0.9x, $1 and $1.02 IIRC).
I'll need to re-do trend lines now and look afresh at a the junk.
HTH, MHO,
Bill
