I noticed on Friday. Pull up the daily Bollinger Bands. Very tight. Today closed well above the 20.2 upper Bollinger on strong volume.
Also broke well into the Ichimoku cloud… while also breaking well above the upper 20.2 Bollinger Band.
Closed at high of day, today.
Daily Aroon just hit 100 today.
RSI new daily high, and not this high since July 2016.
Also, long term weekly bullish breakout of down-trend line since October 2016 (July 2016 high) of a continuation wedge breakout to the upside.
But it's Banro, so is this worthy, is a good general question.
More: Seven weeks ago was the sharp rise on massive record volume. Volume precedes price.
Accumulation actually is up.
Weekly momentum MACD also looks to be gaining, moving up.
Weekly Bollingers (20.2) are narrow getting tighter. Upper Bollinger at .83 cents is likely.
Plus miners have been holding and showing strength relative to gold the past three weeks. People shopping low valuation producing miners. Not to say better ones are not out there.
Banro used to be hot. This is still in people's memories. Interest is ripe for return. Does not off-set legitimate concerns of the company, just factors.
This may not last, however. Bottoming takes some time typically. And it is Banro. Might be shorting opportunity as has been suggested.
This move may fail, yet this thing wants 80s. Even the 50 dma at $1.13. Maybe 60s tomorrow.
And yet, watch out gaps below.
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