SMA chart starting to look very interesting - Chart attached but summary:
- A close above 4.8c is a break of the descending trend line from the November highs;
- Would represent a bullish break from a descending triangle with a target above the previous highs;
- MACD has been trending up since February and is poised to cross the zero line (it did briefly intra day);
- RSI broke its down trend in February and continues to trend higher but is far from overbought;
- Stock closed the gap at 3.9c back on the 3rd March and has now bounced off support in the low 4c on 3 or 4 occasions now.
Fundamentals could well support strong technicals if there is a positive announcement on cash collected as well. Could be very powerful if future moves (technical) are underpinned by operating metrics.
SMA Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
