Wednesday, July 10, 2013 8:51:30 AM
These two charts are looking good. The first is the 90 day 60 minute chart. We have a very nice looking pennant pattern forming. This is my favorite pattern. Also have a nice decrease in volume which I really love to see with a pennant pattern. Yesterday she took and nice pullback into the 20 period EMA and found support. We could see a little more consolidation today and another retest of the 20 if this pattern holds up.
The second chart is the one year daily chart. The 200 period EMA seems to be the resistance. Back on 6/18 we had a strong wick into it. She is testing it again and if we can get a candle to close above it we could see a very strong breakout. The triple bounce on an ascending trend line seems to be a viable trend line.
The second chart is the one year daily chart. The 200 period EMA seems to be the resistance. Back on 6/18 we had a strong wick into it. She is testing it again and if we can get a candle to close above it we could see a very strong breakout. The triple bounce on an ascending trend line seems to be a viable trend line.
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