What's going on here Freddie?
BAS
Nice low SOI and MC there and it's obviously in the oil sector. Cool.
Currently on the daily chart the SP is just settling back inside bollie bands after being smacked for bad behaviour. ( Freddie you know those big wicks on red candles way to far outside of bollie bands are sell signals). Now your seeing candles being printed above the 8ema (yellow) and inside the upper bollie band. Now while the SP remains in that channel, the stock is always rising.
Only concern I have in the immediate short term is the angle of MACD towards the negative and the lack of buying volumes. But resistance is obviously .14 cents and support firstly is that bollie median line and failing that 10 cents
For the looooong holders, the all important weekly chart is setting up pretty well but there's a bit of work to do. IMO. See how that bollie median line (white) is angled downwards, well that needs to reverse to the upside but the good thing is that MACD has has already done that therefore the signals are good for that median line to follow. Get that done and the stock becomes teasingly bullish. IMO.
So an important thing to watch for would be increased volume and consecutive green candles on the daily and there's a good chance that .14 resistance may get smashed.
Hey Freddie, don't tell W3 that I used Fibs but guess what level the SP has retraced to during this recent spike off the lows? Yes, the all important 62%.
Just my opinions Freddie from a quick overview.
Cheers
