The chart looks great and is trending nicely.
Here are my reasons:
1. The price is pushing away from the Parabolic SAR - Bullish
2. Price is in the upper range of the Bollinger Bands - Bullish
3. Price action is using the 20EMA as support and the 50EMA - More Bullish(a broader indicator of trend strength) is moving upward nicely - Bullish
4. The Weekly Chart is in an uptrend and is trading nicely above the 20EMA on a weekly basis - Bullish
5. Weekly Money Flow is positive (using the Twiggs Money Flow Index) and is above zero (Bullish)- Very Bullish
6. The first resistance is 37-38c which co-incidentally where the 200EMA is currently sitting. If the 200EMA is broken cleanly then it is "traditionally" in an uptrend (for the longer term trend trader)- Here is the ultimate test for PNA price action
7. MACD heading toward Zero (Technical traders will use the MACD above Zero as a buy signal so expect a new wave of buying if this happens)- Bullish/In Development
Cheers
Kevin
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