American Green Inc (ERBB)

[halbaag]

ERBB pennant daily chart

Watch the price action to be sure it stays within that triangle and near the 50 DMA (green signal). If it does, then I would expect a break upwards sometime before 09/30.

Right now the chart is recovering from the dark cloud cover bearish signal posted on 09/08. Because of this, you fell through the 20 DMA support. And because of falling through this important support, the 20 DMA at .003 has formed as a resistance. But the bullish pennant is almost always stronger than the 20 DMA, which will be broken through likely the moment the 20 DMA (in light blue) crosses above the upper portion of the triangle.

Also look at the oversold %K and the MACD. Both are now in oversold territory on very low volume. Today was one the the lowest volume days in several weeks.

Got my stop limit buy set up here. Hope you all do too =)