I don't expect a huge trending position here, but I would say the chances of a single day double digit pop are pretty good. Remember because of price/volume/market cap- this IS a SPECULATIVE trade.
Some local support is in the area.
30 min 3C has rapidly gone into a positive leading divergence suggesting that accumulation has been heavy in the last few days.
The 15 minute chart shows the same, the longer the timeframe, the more significant the divergence.
My moving average screen template set to a 60 minute chart, as you can see we have 3 buy signals and relatively new so you haven't missed out on a move.
ADX in yellow shows coupe of things, first the downtrend shows ADX turning down from the 40 level which is an indication suggesting that the downtrend has lost the momentum game, while ADX now turns up above 20 indicating a new emerging trend which by all appearances that this will be an uptrend.
All in all, I like the probabilities of this trade.
My upside target is a guess of between $1.60 and $1.90,
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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