I agree, have been talking about that accumulation since the PP share scare in mid January. Since then have been very steady on the Accumulation side. I set my support line at 79M for A/D. It approached it 8/20 and has since went back up to about 84M so it looks like consolidation again, with long term accumulation staying relatively steady, and in the short term we have bounced off of that support again.
I'll have to say, it seems you and I have similar chart analysis. I have noticed that since you started posting here.
Stochastics RSI, Williams %R, Accumulation distribution are my go to technicals before looking at trend support and moving averages and standard MACD & RSI.
Looking at everything on the SGLB chart. We are due for another run, however, technical aside, I thing investors are waiting on the sidelines for "bargain" prices. Technicals are set to run, IMO we run on one or two things.
1.) News followed by sideline investors jumping in to chase.
2.) A quick fear induced sell off, followed by all of the sideline investors scooping up the cheapies they have been waiting for which will cause a bounce and momo run.
IMO, someone with deep pockets does not want to wait for either of these stories to play out. They are buying whatever is selling in the .11 area. There was HUGE selling today 1.425M sold to the BID and 265K bought at the ASK That is a ridiculous amount to BID support...bought up every last share and we closed only -2%. Once that buyer/buyers are done. We will see one of the 2 scenerios above play out. And with a pretty locked float we will move quickly.
I hope it is on some solid news because we have created a nice consolidated base and technical have reset.
We wait and see.....
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