Double-bottom forming nicely. Looks like it will hit the retracement level of around $1.280 next week.
A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound.
WilliamsR% has it moving into the oversold area
Once the MACD starts trending the other way we should see some support build and an upward trend develop.
All the indicators are pointing toward another push of support just below the $1.30 mark.
I believe we will start to see the SP moving back in an upward trend this time next week.
An announcement in the next two weeks would be perfect timing to help break through the resistance barrier at $1.525.
ALL IMO. DYOR.
VM.
