$28.60 is a major pivot area. Last time we hit that, we tanked to about $24.00.
$29.20 is my bullish trigger but if you want to be safe, you should wait until it closes above that price point then put your trigger right above that candle.
Target is at $32.00
$30.40 is going to be our obstacle to watch out. It will definitely slow us down or even reverse at that price level. As long as we don’t have any kind of reversal pattern, should be ok. But let’s worry about that when we get there.
We are looking for some good spike of volume with the breaking of this resistance this week. One thing we should be cautious is that at a major pivot like this, WHIPSAW happens quiet often. It looks like its gonna go up and then we get a shooting star reversal leaving long upper wick. That would be disaster so watch out for that.
Averages have GREAT angles on them. Very very bullish angles as you can see.
10EMA just crossed 200 SMA. 20EMA just crossed 50 EMA suggesting bulls are still in control.
Love the fact that we are trading above 100SMA. 1 because we dont have to worry about 100 SMA becoming resistance 2. suggesting the bullish strength.
*ADX = Momentum/Strength Indicator
We are at 20 line which is no coincidence that the stock is at its PIVOT.
As you can see when ADX goes above 20 line, it FIND momentum and it moves.
So if this thing decides to break bullish and continue with strong move,ADX will follow and giving us the confirmation of the strength of the bullish move.
Currently only confirmation we have is that we’ve been STARTING to find some momentum. We really want this to go above 20 line.