Ya gotta think this turns into a good day for otc land.
Futures are up, and there has been enough of a sell-off to lure in the buyers once again.
What we are seeing is a convergence of the ma50 (.206) and the ema20 (.218)...meaning that during the past couple of months, the average buy of the stock is around .21 with a volume of around 60 million shares.
Not too bad for the base that has formed here, and totally goes with my call of the stock trading in the .20 to .24 range with anything in the .18 to .24 range a good entry position.
Sorry 5by5, but as time goes forward, you will see how TA will constantly prove itself to all the read it and begin to understand it.
RSI: is 45.68 and pointing down, but seeing that 42 is really its bottom, nothing to fret over.
slow STO is actually quite strong and looking to continue upward.
macdhist is gaining strength, and the macd is still undecided
There was low volume on the sell off yesterday, showing the lack of sellers now.
As I stated yesterday, this stock is poised to go after that .35 now.
I will repeat my last weeks message, buying anywhere in this .18 to .24 range will provide a nice profit as the stock goes after that .35
If I had to give a timeframe, I'd say within 3 weeks now.
On that note, I think if we go after that .35, we get to test that .41
Happy Trading all.
And 5by5, seeing that TA is statistically 70% correct, there is a 30% chance that I am wrong.
MS
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