ok - it's been nearly 4 months since a chart update and with...

ok - it's been nearly 4 months since a chart update and with growing volumes and interest, i thought it worthwhile to look at what the technicals look like.

Pasted below is the daily chart as of close of business Friday 1st March at 1.2c

With long term support holding at around 1c, recent interest has generated a weak buy signal, but the signal is binary, so it can only be a buy or a sell.

RSI positive at 64, and rising from below 30ish, so in buy territory until it passes 70 on way down. Actually RSI has been signalling a buy signal on its own since the 4th Feb, but the buy signal comes from the MA's also going positive. I use Jim Berg's volatility profit taker. On its own RSI is probably the truest individual indicator as it just reflects what P is actually doing.

MACD is 0.2 above signal line, although is below zero

Money flow, using Chalkins Money flow indicator is sharply negative, although that is due to the 120mn volume of last week causing the price to fall to 0.9c and a big negative on the indicator.

On raw volume, there is no doubt interest is growing and a single trade of 100m is significant of in terms of buyers interest

The moving averages all continue to be upside down; reflecting the downtrend. as we have been in the region of 1c for a couple of months, the MA's have all flattened out so an increase gives of positives straight away.

Anyway good to see the TA's turning positive following the markets sentiment changes in terms of both risk-on and M&A activity (details in the Limon thread)



By way of disclosure, I added to my hopelessly overweight position ( in terms of number of shares and overall cost...) on Friday.


GLTA

Wazz