BQI Update

This one triggered Jan. 4th and was mentioned again on Friday the 7th last week. It's showing some impressive gains today so lets take a look.

Here's the breakout, the white square is the 4th of January. Note the rising volume today. Again, as with the others, if we get a close near the top of the range on this kind of volume , there's a good chance we'll see follow through. I favor phasing out of these trades and making sure you've locked in some profits and placing a trailing stop on them at this point. It's easy for these to turn fast and they aren't meant to be anything more then quick trades, they are not position trades.

 On the 15 minute chart we can see there was about 10 days of accumulation before mark-up started. I don't see heavy distribution here yet, but there is some profit taking.

This is the 1 minute chart, the green arrow shows 3C confirmation of the trend, the red arrow shows some profit taking. Again, where it goes from here will be important to see if we are seeing mild profit taking or outright distribution from whoever initially accumulated the share. So if you are in this trade, keep in touch for updates on 3C and DO NOT let those profits slip away.