Well if you concur that the stock hit a higher high, got overbought, traders sold down, and that the symptom of an uptrend is that a lower high will be set, then it seems that a depth/support/resistance analysis is a fair way to look at it.
That is to say, at what point will the higher low be set?
My initial guess is that the higher low would be at 22, but it could have been reached already at 22.5.
This would make me wrong twice, as I thought the last higher low would be 19.5 but it was 20.
In practical reality I was telling people a breakout above 25 might as well render the share price at 34.5, but I have a vague recollection of a resistance at 28 cents... Will have to take a closer look later on.
PS - DMI, OBV and RSI tell a good story on this stock as well. And for some reason I use SMA instead of EMA on this one as well.
MOY Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
