Blast from the past this bad boy.... Came across it in my scans...

Blast from the past this bad boy....

Came across it in my scans and am liking the setup at play.

I haven't been following the news flow of late or what's expected, but certainly of something half decent was delivered it could certainly support a larger move higher.

Picked up a couple on market as I like what iam seeing here;

Daily:

15 day MA about to cross back through the 30 day MA is always a good sign. Looking at the candles it seems as though 1.2c is a point of resistance, that once taken out will become support and open the door for a larger move to take hold.

MACD has crossed back positive and is heading back to the all important 0 control line. If it can keep up this momentum we could expect a larger move to take hold when it moves through this mark.

RSI trending high, as too the stochastics. Call me crazy, but the charts are telling me this wants to go higher in the short term.



The weekly:

The setup here for some perspective is actually very positive. You can see the initial push higher that has taken time to consolidate and hold nicely above the 15w MA. The 1.2c again is critical to see taken out. MACD still trending positive above the 0 control line, as too are the stochastics.

Hard to see these tow indicators below without ruining the chart, but trust me, they are both positive.

A run back to the topside bollinger band at 1.6c would be my first target.