Had very nice moves of late and slight pull last couple of...

Had very nice moves of late and slight pull last couple of days..

Musashi noted in his chart T/A looking for a breakout above the triangle. If confirmed next measured move should see the sp rise towards $2.00..

So we had two green candles above the triangle and then a retrace, so what does this mean...

My T/A on what occurs on a breakout of a pattern and just after..

The breakout & transitional phase..

1- The initial breakout: MAD has broken above its current pattern (triangle) At this point the price movement represents an excellent entry point, but is difficult to ascertain and often riskier than other entry points, such as buying on a pullback.As a short term trader I ignore this first move a look for a safer entry point..

2. The first pullback and support: Now that MAD has made its pull back IMO this represents best entry point upon a support area... Its not uncommon for a stock to retrace back to it point of where the breakout occurred..In MAD's case $1.325 Also Friday's price movement did see the sp retrace back to near the initial breakout ($1.33) Must be noted need to watch the 21EMA as sometimes the sp can back test the nearest MA for support.. IMO if the sp breaks below the box it will only be for a brief period and could offer a better entry point...

3. Resistance above and the move higher: Once the sp has shaken out the nervous traders I expect the sp to break above that resistance & all time high of $1.49 once a breakout is confirmed a momentum move towards $2.00 should occur..