Here is a TA look at TRAB.
TRAB has been sitting in a strong support zone now for 3 months . It has bounced between roughly .04 and .08 and it seems apparent that those in the know are accumulating the stock in this range. Early in October, the stock jumped out with a strong white bullish candle on rising bottoms and this usually is a sign that the insiders are picking up stock.
On Friday, Nov 4, TRAB opened strong on a nice gap up and finished the day on decent volume and another strong bullish candle. In my opinion, this is just the start of a strong rally over the near term.
Also the stochastic crossed over on Friday and this is very bullish when it appears at a low level -- which is the case here - Cross over at the low levels depicts the beginning of a rally and often the start of a major uptrend.
The market is very bullish when the fast moving average is above the slow moving average, which is the case here - I like to use the 20 MA and 40 MA.
I like the way ADX has turned up at a low level as well, indicating that a new uptrend is in the cards.The ADX measures the strength of the prevailing trend. A rising ADX indicates a strong underlying trend - which is the case here. I have found that when the ADX first turns up off a base at a low level, it is a great time to catch the new trend. This bullish indicator is confirmed with the MACD, which is also turning into a nice uptrend. When the ADX and MACD confirm an uptrend, it is usually means a good upward move is possible.
The OBV indicator has returned to its highest level since Oct. 13th. - Very bullish.
Keep in mind that TRAB has really never been promoted, so we can expect very little resistance in this new uptrend. It had a high of 1.80 over the last year, but just when it was starting to run, the markets took a dive and TRAB was gone with the wind, trading gradually to the .04 level. I see little resistance on this new uptrend. However, expect some resistance ( sellers) at .10 , then .20, then .35, then .45 and after that, it is pretty well blue sky trading to the old high in the 1.80 range. I get excited just thinking about it--- .08 to 1.80 is a nice little run!!
All indicators are very bullish on TRAB and this little pop to .08 is just the start of a new major bull market in TRAB shares. I consider TRAB a strong buy in this .08 - .10 range.
The TA indicators for TRAB are showing some strong buy signals.
GL
