Good Morning Holders! What a week it has been.
Retest of 37c complete.
Higher low complete.
Breakout on volume complete.
The time has finally come to move from day to day movements, to focusing on the weekly and monthly charts, especially as new investors continue to come on board.
Quick Summary on the weekly chart:
1. Ascending triangle - bullish.
2. Resistance sitting at 58c - previous high.
3. Breakout could see an easy push towards next resistance at 74c.
4. Increasing volume + shares changing hands.
Expecting to see consolidation between within the triangle before our next move upwards towards 74c.
Quick Summary of the monthly chart:
1. The bear market/downtrend is dead. Bottom is in.
2. Clear uptrend formation on increasing volume.
3. Higher lows --> higher highs.
4. RSI has broken out and heading upwards for the first time since the last run. (25c to $1.15)
Expecting to see a continuation in the uptrend - consolidation around these levels before a push for higher highs at 63c and 74c.
Keep in mind that this is purely TA, and any updates in FA - ie. revenue upgrades, profitability, china announcements, deals or contracts, could completely blow this out the water. (pun intended)
When EMC began, management always stated that this was a 5-7 year plan. We are now approaching the exciting execution of what they have been working towards.
Onwards and upwards.
All the best,
L
Add to My Watchlist
What is My Watchlist?
