06/21 - $7.73 is a crucial pivot point,
needs to break this current resistance
with volume support,
to move north
It formerly broke the blue wedge for a nice gain, purple wedge is poised to be broken...will it continue to play inside the wedge with lesser bull AND bear volume, leading to consolidation? Usually, not always, usually this allows the stock to flex north.
Currently, we see increasing bull volume pushing the price up to purple trending resistance. The bull candle has no lower wick, meaning no haggle on price, and the upper wick expresses confidence in the current stock price. $7.73 pivot point is crucial in that this price is where the stock broke outward and upwards, other times in history we see this price being too much for this stock to break through. Remember, stock brokers/investors will always look to the past to determine current price. This is why charting your resistance and support lines are essential in formulating an educated guess, because that's what stocks are, an educated guess.
*Let's see what happens!!*
DISCLAIMER - I am not a professional investor. These charts and ideas are merely my opinions. Please seek a professional for all your investment needs.
needs to break this current resistance
with volume support,
to move north
It formerly broke the blue wedge for a nice gain, purple wedge is poised to be broken...will it continue to play inside the wedge with lesser bull AND bear volume, leading to consolidation? Usually, not always, usually this allows the stock to flex north.
Currently, we see increasing bull volume pushing the price up to purple trending resistance. The bull candle has no lower wick, meaning no haggle on price, and the upper wick expresses confidence in the current stock price. $7.73 pivot point is crucial in that this price is where the stock broke outward and upwards, other times in history we see this price being too much for this stock to break through. Remember, stock brokers/investors will always look to the past to determine current price. This is why charting your resistance and support lines are essential in formulating an educated guess, because that's what stocks are, an educated guess.
*Let's see what happens!!*
DISCLAIMER - I am not a professional investor. These charts and ideas are merely my opinions. Please seek a professional for all your investment needs.