Wednesday, June 19, 2013 4:20:18 PM
it is green by a fraction of a penny ;)
even though it opened at 1.24 and closed at 1.22+ for a red candle, the close is on par/above yesterdays close.
I like the weekly chart, below.
While the stock is still arguably in a long term down trend, RSI is positive, MACD & ADX show an oversold situation AND both show a change in trend.
The 1.23 to 1.25 area is crucial. If it can get above 1.25 on volume then I think the change in trend is confirmed.
If/once it gets above the long term down trend highs (the blue lines on candle bodies and upper shadows) then things will get very exciting, I think.
Also note increasing volume on the trend change, a good sign
even though it opened at 1.24 and closed at 1.22+ for a red candle, the close is on par/above yesterdays close.
I like the weekly chart, below.
While the stock is still arguably in a long term down trend, RSI is positive, MACD & ADX show an oversold situation AND both show a change in trend.
The 1.23 to 1.25 area is crucial. If it can get above 1.25 on volume then I think the change in trend is confirmed.
If/once it gets above the long term down trend highs (the blue lines on candle bodies and upper shadows) then things will get very exciting, I think.
Also note increasing volume on the trend change, a good sign
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