The downward direction of the 50DMA has nothing to do with the current trading pattern...
Its the 10DMA, the 10DMA just broke the 20DMA which is a bullish indicator. If the 10DMA continues upward and crosses the 50DMA, which I believe it will this week, that's a strong bullish pattern.
And if the 20DMA crosses the 50DMA we will really move. Just look at the last time the 10DMA crossed the 50DMA, the stock tripled in price...
I'm not saying that will happen again but there's no reason not to think it won't, there's other techs that show a bullish pattern as well, the MACD, TRIX, ADX.
Only the coming weeks will tell, but I'm confident non the less.
(10DMA: .0021, 20DMA: .0021, 50DMA: .0026)
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