Tantech Holdings Ltd (TANH)

[ospreyeye]

$TANH Chart from yesterday – bullish move above EMA 8 @ 3.96 on good volume – that is the key level to close above & turn into support – on Oct. 12th $TANH closed above EMA 8, but failed to turn that level into support & a pullback followed – it will be a bullish change in trend if EMA 8 turns into support – as this chart shows it’s been resistance since it broke the 2nd week of Sept. – the middle Bollinger Band @ 5.15 is the next resistance level to break – when the middle BB turns into support a new up trend can begin – $TANH is also breaking the red descending resistance line – a close above that level would be bullish – RSI & fast STO are now above oversold levels – both indicators have a ton of room to run- the Key is the middle BB – a close above signals more upside potential – fail to turn the middle BB into support & the downtrend should continue –