chart

  1. 173 Posts.
    The chart looks great and is trending nicely.

    Here are my reasons:

    1. The price is pushing away from the Parabolic SAR - Bullish
    2. Price is in the upper range of the Bollinger Bands - Bullish
    3. Price action is using the 20EMA as support and the 50EMA - More Bullish(a broader indicator of trend strength) is moving upward nicely - Bullish
    4. The Weekly Chart is in an uptrend and is trading nicely above the 20EMA on a weekly basis - Bullish
    5. Weekly Money Flow is positive (using the Twiggs Money Flow Index) and is above zero (Bullish)- Very Bullish
    6. The first resistance is 37-38c which co-incidentally where the 200EMA is currently sitting. If the 200EMA is broken cleanly then it is "traditionally" in an uptrend (for the longer term trend trader)- Here is the ultimate test for PNA price action
    7. MACD heading toward Zero (Technical traders will use the MACD above Zero as a buy signal so expect a new wave of buying if this happens)- Bullish/In Development

    Cheers
    Kevin
 
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