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[Costa]

On the daily chart the present uptrend is getting confirmed as the days go on. The technical daily chart above shows the stock is ready for major rally as 50-day moving average has just crossed on top over 200-day moving average to form Golden Cross, a very bullish signal. Additionally, the MACD shows a positive sign as MACD and signal line are above 0. Additonally, the accumul/distrib indicator shows a marked increase in accumulation since the middle of May. Immediate support remains at $3.1 followed by $3. I'm using today's high of $3.45 as resistance for tomorrow. A break above that area could trigger further bullish momentum towards $3.9.

Edited by Costa, 03 July 2012 - 12:34 AM.