Again...nothing much has changed over the week, except that we got information that this company has had a nice year with increasing revenue (always a nice sign).
The investors appear to be waiting for news on this venture into the USA. That is what is holding up the stock price. That $0.42 resistance line is HUGE...imagine what it will be like when we break it....not if...but when IMHO. To me it will be like pressured water through a leaky pipe.
Here is the Yahoo line chart
This chart does not include todays action which resulted in a slight uptick to $0.37...above the 50dayMA.
When I look at the SharpChart that I normally use the TRIX(15,9) is heading upward nicely, The Accum/Dist is also starting to head above its 20dayMA(shows people are accumulating), The RSI is positioned above 50% (lots of room for excitement) and the MACD is turning positive again too.
The volumes are growing a bit too. The BB's are not too narrow right now so I would not expect much movement til Wednesday next week unless they break news regarding this venture into the USA.
Looking good for next week....hope you are around for the ride
