Exciting times here @ NTEK guys and gals. Very bullish higher lows on the daily chart. So many great things can be said about NTEK and the chart, but today I am going to keep it simple and to the point with my chart analysis.
The Chart:
Volume has been on a steady rise since mid September and I expect this trend to continue into October/November. Should start seeing some 15-25 Million share days coming up soon.
MACD is breaking positive once again as of today.
%B has been making higher lows over the past few weeks and is now clear of .5 and ready to run.
Today's candle is a very nice one for a couple reasons; one being it was almost perfectly set on the MA 10 for a LOD and pushed all the way up to the upper BB @ .117 for a HOD. Closing very close to the HOD also.
Early next week (Monday/Tuesday) I expect to see a test of the .125 resistance area and I believe this time it will not put up a fight. This should allow us to test our next real resistance at .1395 (current 52 week high). A push through .14 will result in a blue sky breakout to new all time highs!
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