Check out the weekly chart. This is the type of setup I like. Closed this week at $1.82 with a recent high at $2.66 - a 31% potential move. Stos are below 20% and hooked up after a recent base. Avg Volume is well above 2 mill.
As I wrote last week, this is the type of "setup" I like to try to trade. Sometimes, they work out well, other times the market just stalls.
You'll notice from my chart that I see support climbing from the July 2003 lows with resistance from the recent tops forming a potential "flag" formation. I see current support $1.57 (from the 10/03/03 bar).
My ASL system has turned bullish. My TCBR system has not (yet) turned bullish.
The Stos show signs of a potential jump in price action.
Now, I may have to wait for a few weeks to see any real price action in this. But my analysis shows that IF it breaks the current resistance (@ 2.42) the next superior resistance is at $4.20 and $5.20).
Here is a nice long term trade with a target of $18. WEBM
It has been basing for 1 year and now has recently had come nice attention. Company has good fundamentals too
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