traders exiting positions, page-6

Mal with respect you must of finished the book 'Trading For Dummies' only last night.

This is nowhere near a double top.

If anything it is in a strong uptrend with definite resistance around .071. It reached these levels three times prior to todays intra day high.

If you look at the candles you could argue that an ascending triangle is forming and if we see a breakout above .071 the price may, I say again may, go to .10c from a TA point of view that is.

However, (deep sigh) if you look at the line chart the price is in a strong uptrend with support around .058. OBV is increasing the the price is way above the 200 day MA, XMA is diverging MACD has crossed STOC has crossed and the RSI shows that the stock is overbought a bit.

So you get 2 different picture alas one of the limitations of TA.

So what does this all mean absolutely FA but if you are going to post TA at least do it with the whole story.

Cheers

BW