|I have already played this stock and sold at a nice profit, but I am thinking about buying again. I would love to hear your thoughts.
Chart courtesy of StockCharts.com
My first purchase was at a pullback to the $0.30 cent area and I sold if after 2 days for a nice profit.
I am looking now for another entry point and notice a couple things:
- It seems to be forming and ascending triangle...and ready to break out above $.60
- I do see the looming major resistance of the 200 day MA...is the forming triangle enough of a consolidation to get SOUL through $.78?
- I notice a rising MACD that just recently crossed Zero--so it is not showing an over bought situation.
I am expecting this stock to break out above $.60 as early as tomorrow. If it does, I would sell it on the second or third day up (as there is such a large looming resistance in the 200MA). I would then wait to see if another buying point presents itself.
Anybody have any thoughts on this?