This update applies to AJX... where actually the price has broken the short term trend line and is testing the 200 day average.... add a 200 day average in to be interactive and edit the color to yellow.
I have included 3 variations of MACD which surly must imply it is my most favorite indicator, however I imagine it will take a stretch, but to me this threesome indicates an entry point of low risk along the 200 day average,or as far down about 90 cents, which is a support (resistance turned support) level established back in Feb 2013. These low volumes mentioned tend to let support levels hold.... The one characteristic that is worth noting is that for MACD it must be above the trigger line or Zero (0)... Quite often this is an overlooked characteristic that must be intact to observe real up trends. In both upper MACD studies we can easily verify a broken trend short term, however this the third MACD is the one that has to hold as it can easily be seen to be ranging above 0..
An interesting thought strictly pertaining to sentiment trading is the fairly low volume which I have noticed often associates with long upward trends by virtue of less manipulation being observed along with having breached $1.00... which seems to leave behind the fickle penny traders... and as well one should consider that it is a non mining stock, and as such has a value that can be measured by it's achievement's which in this case are not too shabby... with a more stable beta (.55) which responds better to market conditions, thus making it more predictable as a charting study.... If support breaks this would be a most interesting bottom pick, however that remains to be seen... keep an eye on this one... it still looks in a med to long term trend!
Dave GLTA
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