Here are some more thoughts, with another week in review:After...

Here are some more thoughts, with another week in review:

After opening the week on Tuesday at $1.10 (Monday was the Queen's Birthday holiday in most states), UWL surged 19% to close at $1.31— an all-time high on the weekly chart. The 21-cent gain was the second-highest weekly gain on record (the highest being 23 cents in the first week of May):



Looking at the daily chart, there were two closes last week at all-time highs. Friday ended at $1.31, being 48 hours after Wednesday's high of $1.24. The latter matched a previous all-time daily high on May 29. The resistance was broken:


Daily trading volumes in June have gone over 1 million shares (twice). Last week also signalled the first week without a long-legged doji (on the daily chart) for the first time in weeks. According to Investopedia, some traders treat long-legged dojis as indecision in the price movement of a stock, especially after a period of gains.)


RSI is approaching 70, suggesting that the stock is starting to become oversold. The last time the RSI rose to the high 60s (late April), but the price doubled anyway (over several weeks):



If the glass is half full: UWL traders aren't fazed by a high RSI - confidence is growing, and so is the price.

If the glass is half empty: a weekly growth that is so high (with no news announcement) suggests too much speculation and a setup for a price tumble.