Before we start talking about rises, we need to get a nice green candle to break out of this zone between 40 and 42 cents. Technically this one should have already bounced this week, but as with all things, it will need a bit of a nudge to get going. I'm thinking a rebound in the market overseas tonight could give us a good start out of the blocks tomorrow. For the rest of the day it is anyone's guess where we are heading.
The MACD's that I showed in the chart on the other thread are creeping up ever so slowly. We need them in positive territory to give us a bullish movement signal.
If you want early signs of a rally in CAP, look for a big volume clearance of 42.5cents as well as a significantly quick swing in the market depth. This will have us clear the moving averages that the MACD's use; and that should signal a run for 50cents.
All just my opinion, but those sorts of things should be what you should be looking out for in the next few days.
CAP Price at posting:
39.6¢ Sentiment: LT Buy Disclosure: Held
