Liquidmetal Technologies Inc (LQMT)

[ddaurelio]

@ngsww - RSI above 70 is generally considered "overbought" territory if you are only looking at the RSI. However, it's not unusual during an extended rally for the RSI to stay well above 70 (all it really takes is enough sequential "up" days). The last 5 sessions have been "up" days (with the exception of 7/31), so it's not surprising to see the RSI at 82 right now. What this appears to be is a significant upwards breakout from the consolidation wedge that has been forming since early May of this year, with a strong support at about 0.27. We saw an earlier breakout attempt at the end of June that took us up to test the 0.30 overhead resistance range, but returned back to support by around 7/12/17. During that attempt, the RSI only got to about 51 because it consisted of only two "up" days on 6/30 and 7/3. This time looks to be different, because the upward move has been more gradual, but appears to have possibly broken through resistance. If we see additional daily closes above 0.30, that would be a strong indication that the 0.30 resistance level has now become support. In that case, we could expect the RSI to stay above 70 for a while longer. So far, the chart certainly looks like we have a "real" breakout this time, and a weekly close above 0.30 would go a long way toward confirming that, IMHO.