Here’s the nitty-gritty on the stock:
- Textbook inverse head and shoulders pattern in place but not yet confirmed (Pending Bullish)
- Consolidation over the last month, that could accumulate enough buying power to push the IH&S pattern (Bullish)
- Nice support at the 10 & 20 day moving averages (Bullish)
- Trend-line support holding off of the January Lows (Bullish)
- Move below $5.04 would break key support (Bearish)
- Previous move up was met with significant volume. Pullback has been on light volume (Bullish)
- Since its IPO, has yet to put in a ‘higher-high’. (Bearish)
