Here's a chart of CAP looking back on the chart and pointing out various different things I use to analyse the overall picture that the chart is presenting. Not enough room on the chart to fully express everything I look for so hope it makes some sense. Fridays action was good but there is a small gap and they usually get filled unless it was a breakaway gap, in that case though i would have expected more volume and a close right near the top of the bar. Our close showed there was selling coming in still so we may have to go back down close the gap and test for more supply before we move up through the resistance of the top of the downtrend channel. Then again I might be wrong and we may power on up from here. Personally closing the gap first might be a better option, give a few more buyers a chance to hop on board and therefor fuel a better advance. Very low risk entry area here so close to the bottom of the uptrend channel imo.
Would be interested to see others thoughts on this. I hold this stock and it's easy to be a bit biased when you are in. So other views are always welcome and helpful.
