Porter Bancorp Inc. (PBIB)

[ospreyeye]

$PBIB Chart - the extremely long upper wick on Fri.'s candle shows major profit taking off HoD levels $PBIB opened @ 1.35 - hit 1.25 support - ran all the way to 3.43 only to pullback & close @ 1.51 - huge potential intraday % gains on the way up & the way back down - the question is where does $PBIB go from here? -

Fri.'s real candle body formed completely above the upper Bollinger Band @ 1.30 - this signals the upward move is getting frothy - the candles always work their way back into the Bands - the upper BB is the 1st support level on a pullback - EMA 4 @ 1.27 is the 2nd support level - EMA 8 @ 1.18 is the 3rd - the Key for $PBIB bulls is to hold the middle Bollinger Band @ 1.08 -

Huge volume spike on Fri. - checkout that giant green volume bar - the MACD Line is pointing up @ a steep angle - a large MACD Histogram formed Fri. - Fast Sto @ 21.60 after closing just below 80 the day before - the spike down on Fast Sto was created by the up and down intraday action on Fri. - the silver lining is Fast Sto has reset and there is now a lot of room to run to the 80 overbought level -