RES:
This chart looks quite good to me. On the daily we can see price breaking out of a horizontal range on increasing volume. Looks to me like a bounce off the pull back to the original downtrend line from the failed wedge pattern.
On the weekly chart price is still within a large wedge but I would suspect this will break to the upside give the daily price movements.
Daily stochastics are showing bullish divergence on the daily making a higher low while price was still range bound. On the weekly stochastic and going further back in the chart I can see stochastics making a high equal to a few months ago while price significantly declined. Thats bullish IMO.
Daily MACD is also showing slight bullish divergence, but stochastics is the one to look at here since price has been rangebound recently. Weekly MACD is moving with price confirming what the daily chart is telling us. There is also bullish divergence on acc/dis telling me this stock is being accumulated.
I have resistance around 60c and then again at 65c with support at around 48c. A break of 80c would be awsome, with hardly any resistance past it on the weekly chart.
[URL=http://img5.imageshack.us/i/resdaily.png/][/URL]
[URL=http://img32.imageshack.us/i/resweekly.png/][/URL]
[URL=http://img32.imageshack.us/i/resindiators.png/][/URL]
