** UHCR Chart: my humble take...
~ I dont believe in negative divergences in penny stocks, as they are unreliable often enough to render them completely useless (why use something that's right only 50% of the time)?
~ ADX and +Di -Di confirm a bullish trend, which stays as long as the +Di stays above -Di. This trend has been confirmed over and over since March.1.
~ I see a symmetric triangle, not a descending triangle, which I feel is not properly drawn...
~ The price is sitting on EMA20..which itself is a very good sign. The last bounce was off MA50. This is the natural development of an uptrend...every pullback is more shallow, until the final big run. Stock bounces off MA50, then MA20, then MA10.
~ In fact...another couple of days of sitting on MA20, and this becomes one of my classic breakout patterns.
~ This is why I dont share anyone else's "bearish" sentiment of the UHCR chart at this point in time...
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