The very long and established horizontal trendline at 0.010 from which we expected price to bounce off in early May as it had done in the past failed to do so in the past week, despite the short term cycle up and which was accompanied with positive divergence on the smooth RSI indicator. So technically, we have formed a consolidation rectangle between 0.010 and the low of 0.008 with Friday's close at 0.009 suggesting a stronger closing. Outbreak will be 0.010 with volume.
We also see prices closing at the bottom envelope (0.008 )of a deviation band over stock prices, where traditionally it will signal an edge band transaction at low prices, so that a swing trade can be held till prices reach the upper envelope (0.012 to 0.013 )of the deviation band when measured for targets on the chart.
May the best prices be yours,
dascore
EDM Price at posting:
0.9¢ Sentiment: ST Buy Disclosure: Held
