Today looks good! Closing at $1.745, which is just barely above my predicted closing price.
In saying that, and looking at price action today, the battle royale between longs, and shorts at $1.70-$1.72 is clearly in favour of the bulls.
Given the large amount of shorts on Friday, and yesterday, and potentially even today which all resulted in higher share price, it means (slowly but surely) the shorts will start covering soon!!
Why? $1.75 was broken down even though there were walls there.
Having a look at daily chart once more, we can see that all indicators are slowly turning up. I prefer not to gap up at all because it will mean that SP will come down eventually to fill it.
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The indicators are just barely above oversold, but still considered a bargain. Today was an important day closing a nice green and that has resulted in a
confirmation to buy/sell signals. I suspect that those who have seen this tonight (when they do market scan) will pick this up and may consider buying in. This includes BOTS which heavily rely on the mathematical models that have seen crossover above the oversold band in both RSI, Faststochs and a few other indicators.
As the old adage saying: Buy Low, Sell High... (and it's still considered LOW and now confirmed for those who trades but requires
confirmation)
This confirmation is the confirmation of a Trend. Another old adage: "Trend is your friend" and "Cut your losses quick, let your profits run"
Tomorrow is another day, and hopefully we will see a green day, with a close above $1.75.. maybe $1.77-$1.78. There may be another battle royale at $1.80-$1.82. But I will take one day at a time and analyse the chart.
I think the share price will continue to run up, due to the trend and short covering and super funds buying into the new year.
Slow and Steady please!!
On a different note about pollution, MIT did a study and found that about 200,000 people die from air pollution each year in the US
http://news.mit.edu/2013/study-air-pollution-causes-200000-early-deaths-each-year-in-the-us-0829
Now think about how many people die in China each year from air pollution, and the # of deaths is increasing. China has no choice but to go green unless they want everyone to die.....
