Well this company cracks me up, spoke yesterday about closing a long term gap and breaking resistance, so what does this company do? Gap over the lot and laughs in our face. Never seen that before. So now we have 3 recent gaps to fill but we sure smashed through that resistance.
Check out chart below, click on to enlarge.
So, where to from here? Maybe I underestimated the 4-1 buyers verses sellers yesterday with todays spike, i see it’s still a solid 3-1. MA’s beautifully lining up but RSI is creeping even closer to being way overbought and that 80 level is my trigger out of here. (For the short term). Ideally it would be great to see the SP trade sideways for a few sessions to consolidate back inside bollie bands and cool off RSI but the way this has gone over the past couple of weeks, i really haven’t a clue.
Cheers
IFN Price at posting:
61.0¢ Sentiment: None Disclosure: Held
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