Divio got back to old support and holding well. Moving averages seem to converge as well therefore there is a great probability that the price would break upwards.
Entry at these prices.
Stoploss 5% from here!
Profit minimum 100%
Trade with Cautious!
Divio Tech is a small-cap swedish company that seems legit. For further information please see their webpage where the business case - or rather the technology they provide - is laid out in a short, sweet and illustrative way.
www.divio.com
But in short:
The company has a ready product, is currently working on growing the client base, but has already a bunch...
Unsurprisingly, Divio is falling back from its latest impulse. Hopefully, it will keep itself above the trend channel's roof that it shoot through previously. But if it doesn't, the other hope is that it'll bounce of the MA50 line and establish itself once again above the previous trend channel.
Divio had a real shaky day yesterday with low volume. But it ended strong which seem to have triggered an impulse today. Hopefully this means it'll finally establish itself above the trend channel's roof.
The short term upward trend I sketched out yesterday was broken, but not necessarily bearish just yet. If we draw out a trend channel from the stocks movement since mid-May, it's clear the recent impulse broke through the trend channel upwards and might now confirm the roof of the trend channel as support.
I usually do not draw short term trend lines, but in this case I'm interested to see how well the short term upward trend will play out. My guess is that Divio will rather consolidate around 0,78 (the blue zone) and then we'll see what happens. Buyers have frequently stepped in when the stock has fallen below 0,77-0,76.
