Disclaimer:

This chart is information of a general nature for those with an interest in technical analysis. Do not rely on it for investment purposes without obtaining qualified professional investment advice.

Momentum

Intact mature trend

Technical observations on weekly chart with multiple moving averages.

• Uninterrupted mature 20 month uptrend from low of $7.82 to high of $12.60
• Momentum increasing for both traders (short-term averages) and investors (medium-term averages)

Weekly candlestick chart with suggested target based on Fibonacci retracement

• 100% Fibonacci retracement level at $13.80.
• RSI bordering at over-bought zone warning of possible limited retracement.
• Entry could be possible at about $12.

Mature and continuing trend.

Categories: Chart Analyses, Technical Analysis