Seafarer Exploration Corp (SFRX)

[Bodach]

SFRX Fibonacci bottom and MACD/MA Bollies:

This is what got my attention on SFRX. It had reached, and bounced, from the bottom retracement line. For those of you unfamiliar with what Fibonacci is, these lines are not arbitrary. They are based on golden ratio percentages -- and they happen to line up with the history of this stock's progression downward. The bottom (zero percent) retracement line represents the bottom as defined by the top (occurring on 7/29). Expectedly, SFRX started a bullish turn around from there. This is defined by not only the current primordial uptrend in PPS, but the HUGELY bullish crossover we see in the MACD histogram, and MAs (The lower section of this chart, but above the volume bars on the way bottom). Basically, and to keep it simple, when the green MA line crosses over the red one, from the bottom, it is hugely bullish. We see that crossover begin happening today; likely, imo, continuing in completion tomorrow.

I've also included the bollies, based on the 10 day moving average. We can see that crossing over the 10DMA is a tough thing to do for SFRX. Well, it's done it; and this time with the support of a Fibonacci retracement bottom, and MACD bullish crossover. The bollies have tightened -- indicating a move one way or the other. I think all indicators point to that move being bullish.

Up around .015, we see true resistance. This is where the 200DMA lies, and a difficult Fibonacci resistance. I believe we begin testing this line shortly.

GLTA