Ok, lots going on here on my messy end. From bottom to top:
1. RSI trend line from 8/15 is still intact. Needs to bounce off 38-40ish to keep the trend intact. RSI currently at about 45. Wedge ends 10/5ish so I expect the next big move to be around then?
2. Accumulation/Distribution line, while improving, still shows significant divergence from the SP. Note that when the stock price was low, the Accumulation Distribution trend was high. Once the price started moving, they switched places. You also see divergence between SP (increasing highs) and RSI (decreasing highs) signaling a move downwards.
3. Moving Average 50 on the 30 min chart at 1.10 and 1 hour chart sits just below 1.05. These are areas of support.
4. Today we closed below the lows of the bottom trend line (bright yellow), which confirms that the SP will go down (IMO).
Over the last couple of days, SP literally jumps two levels of support/resistance. Given the above, I think we move from 1.05 (low) to at max 1.20 (most likely 1.17ish). Any gap up in opening I would sell immediately because it WILL fill the gap back down and possibly then some.
1. RSI trend line from 8/15 is still intact. Needs to bounce off 38-40ish to keep the trend intact. RSI currently at about 45. Wedge ends 10/5ish so I expect the next big move to be around then?
2. Accumulation/Distribution line, while improving, still shows significant divergence from the SP. Note that when the stock price was low, the Accumulation Distribution trend was high. Once the price started moving, they switched places. You also see divergence between SP (increasing highs) and RSI (decreasing highs) signaling a move downwards.
3. Moving Average 50 on the 30 min chart at 1.10 and 1 hour chart sits just below 1.05. These are areas of support.
4. Today we closed below the lows of the bottom trend line (bright yellow), which confirms that the SP will go down (IMO).
Over the last couple of days, SP literally jumps two levels of support/resistance. Given the above, I think we move from 1.05 (low) to at max 1.20 (most likely 1.17ish). Any gap up in opening I would sell immediately because it WILL fill the gap back down and possibly then some.