Today's move and volume is pretty positive after yesterday, which was a clear volatility breakout on a prior contraction and basing period. Hopefully overhead selling pressure from trapped buyers on the earlier price spikes to around $1.90 has largely abated and the volume expansion compared to recent weeks is institutional buying giving some impetus for a leg higher. I might expect a bit of resistance in the $1.80-1.90 range, but if there is larger money coming in this could easily shift the dynamics to net demand and push through it. Be interesting to see what the results look like (on a like for like basis) and commentary on the slightly shifted business direction.
MNY Price at posting:
$1.83 Sentiment: Buy Disclosure: Held
