Sambora, I just went and had another look at the chart and I disagree, I think we will see something before this consolidation.
On the chart it looks ready to burst from the pressure.
The last time it formes a triangle like this it was a much larger triangle which came to a point in late Oct 2006. Just like now there was nowhere for the price action to go, it had to burst out of the vertex and it went up when it burst out (phew).
Now that I look at it, things were pretty grim then as well. It had dropped to the mid 6 cents area and the stochastic and MACD where not looking too healthy, the RSI was indifferent.
When it burst out of the triangle it went from mid 6's to 10 cents in a couple of weeks. This time, if history repeats it will launch from the low 9's so roughly a 50% rise should take us to about 13 cents or above.
That wall at 10 and 10.5 is what needs to be broken. If you look at WMT has done in the past 6 or 7 trading days you see what can happen when these U stocks run.
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