SBCF Follow up

This is a C&D trade from the morning of Thursday, January 13 around $1.56 so it's up about 11.5% and has seen gains as high as 24%. It's puled back and looking like it may start a second leg up. Lets take a look at the charts.

 First we have a large rounding base, this is an ideal looking base and is big enough to give us more upside then the typical C&D trade. Note MACD's positive profile and the rounding volume with price. We saw a breakout on rising volume as well.

 You can see on the moving average screen I use exactly where it gave a long signal and that signal stayed long ever since.

Finally a close up so you can see the trade setup. If you are already in, you may want to add, if not, this may be a chance to establish a position. The red line is a stop, above the white line is where you want to look at going long. The price levels are $1.59 and $1.78 respectively. This should be able to hit the $2.10 area-possibly on this next leg up. This is not the average C&D trade because the base is so big, it's better! So set an alert and take a close look at this one.