Thanks Anna, now I know the real reason behind this recent surge of momentum of the SP:
My TA of the short term outlook as follow:
The pivot point stands at $2.93. The upside prevails as long as $2.93 hold as support.
The RSI is above 70, this could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day MA (standing respectively at $2.99 and $2.81).
The
Supports and resistances: $3.78 * (next target if the All Ord rebounce) $3.65 ** (next target) $3.52 $3.22 last $3.01 $2.93 ** $2.72 *
AWB Price at posting:
$2.72 Sentiment: LT Buy Disclosure: Held
