Average daily volume has been increasing since late May when it made a bullish pennant and a golden cross.
The ADX at 36 indicates a strong trend with D+ moving sharply higher.
Price broke out of the pennant (which corresponds to the descending trend line on the weekly) and looks very bullish as it appears to be flagging.
Most importantly we bullish divergence as OBV has been rising while price was dropping. This indicates volume is flowing in to the stock. (OBV is a cumulative total of positive and negative volume) OBV is a powerful indicator that often signals the actions of "smart money".
Watching for a break of possible double top at $1.40
target: $1.80 short term $4 long term.
The ADX at 36 indicates a strong trend with D+ moving sharply higher.
Price broke out of the pennant (which corresponds to the descending trend line on the weekly) and looks very bullish as it appears to be flagging.
Most importantly we bullish divergence as OBV has been rising while price was dropping. This indicates volume is flowing in to the stock. (OBV is a cumulative total of positive and negative volume) OBV is a powerful indicator that often signals the actions of "smart money".
Watching for a break of possible double top at $1.40
target: $1.80 short term $4 long term.
