American Green Inc (ERBB)

[ospreyeye]

ERBB Chart.......5 Days Down & eventually going to rebound........

MA(20)/Middle Bollinger Band@ 0.009 support broke on the 28th it is now resistance......MA(10) @ 0.008 has proven to be difficult resistance to break......

ERBB dropped below MA(10) on Feb. 20th......as this chart proves it's been major resistance......this is 6 days in a row & counting that MA(10) resistance has not been broken......

In order for ERBB to head higher it must close above both MA(10) & MA(20).......once ERBB dropped below The Middle Bb it went from being in an uptrend to now being Ina downtrend......

Stocks trading below the Middle BB are in the Bearish Lower BB channel.....the Middle BB is resistance & the Lower BB is support........

MA(50) @ 0.006 is the 1st support level below 0.007 on the daily chart.......ERBB formed a descending triangle off the white candle on the 22nd.......

Descending triangles are bearish.......ERBB is now breaking to the downside of the triangle........if ERBB makes a low today below the LOD on the 28th it will signal more downside risk.......

Look for a White candle to signal the bullish reversal pattern......ERBB on bounce radar.......$$$