what a week for anp, page-35

Some observations..

The weekly chart looking very bullish as Johno suggested, it has an attractive appearance with the penetration to the top of the bollinger bands. It would of appeared better to see a close a notch higher though. (on the week’s high)

Negatives:
Rate of Change is above zero (144.44), indicating an overbought market.
%R is currently in overbought territory at 93.33.
RSI has issued a bearish signal at 76.20.
Volume rate of change suggests a stall of the current trend
The stochastic is in overbought territory (K line is at 94.12) indicating a possible market drop is coming. But I’m not putting too much weight on that because it's only most effective at picking tops in a bear market imo..

Positives:
MACD is in bullish territory.
The parabolic is currently long and in bullish territory. The 45 bar new high suggests that a continued upside move is possible. ANP's sp came within 0.01 points of reaching the parabolic sar showing some strengthening in the uptrend.
The price is above the linear regression value.
The current new high is accompanied by increasing volume suggesting some strength behind the current move and a continuation to further new highs.
Given that it closed at a 45 bar new high, the odds for further bullish momentum is greatly increased.
ADX is rising and indicates the current trend is healthy..

I’ll be watching for the 2.3 barrier to be broken if there’s more steam in it short term. I also believe that a re-trace to 1.6/1.8 is not out of the question at this point in time.
What I’m not prepared to speculate over, is whether if the new high, or the pullback is going to occur first during the beginning of the week.


All just an opinion anyways..