Okay Fundamentals for this company have not been good for 2 years now.
But Technically this stock looks very interesting. Last weeks price action resulted in the lowest volatility seen for 10 months. Vol has risen in the last 2 days and yesterdays price opened on its Low, closed on its High, and closed above the significant rissing 200 day moving avg. with an expanding range.
Added to this, we have a 2nd grade divergence with December and February price lows and the MACD indicator lows.
If this stock listens to me it should continue its potential upside breakout hugging the upper Bollinger Band. If its going to be cheeky, it will close below the 200 day MA where I will exit.
The only problems I see technically, is that the breakout bar should have had more volume for confirmation. And the OBV indicator is trending down, which is a sign of long term weakness, but hey, this is a short term trade not one for the Super Fund.
Just my Ideas, and I've been wrong more times than I would like to admit.
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