It's saying that there are several resistance zones in play before this has room to really break out. The green dashed lines are price points where bulls and bears have historically fought to take control. (They align best as possible to the opens, closes and wicks of past chart candles.) Any such line above the current price acts as resistance, trying to stop the upward momentum.
Today EGYF closed at .128 which is testing the top boundary of Resistance Zone 1. If resistance breaks during the next trading day, the next place bears can try to rally would most likely be around .15 in Resistance Zone 2. Bears may sell hard at open Tuesday to keep the price inside Resistance Zone 1. (Markets are closed Monday for MLK day)
Rinse repeat up to the top of Resistance Zone 3 around .182. If bulls eventually break through that line, bulls take over the market for awhile. The "Blue Sky Breakout" is uncharted territory for this stock where the market hasn't determined any support or resistance lines yet.
My personal TA indicates the EGYF charts can support a run (Chartists: take a look at weekly Bollinger, RSI, MACD) but big volume needs to come in next week to confirm, and the company needs a catalyst (like known upcoming news) to sustain a bigger breakout. I'll be doing my DD over the weekend. I've been seeing lot of OTC tickers with favorable chart setups that appear to be carefully crafted by MM algorithms to sucker people into buying before the runs quickly fizzle. This is not investing advice.
