Volume looks strong at the moment as per potential breakout mentioned last week, where to now?
Sent: Tuesday, April 28, 2015 1:14 PM
Subject: ********************* Potential Breakout: Pacific Andes - clearing above 0.066 can open the way out of consolidation phase, price 0.066
Subject: ********************* Potential Breakout: Pacific Andes - clearing above 0.066 can open the way out of consolidation phase, price 0.066
From previous buy call, Pacific Andes has been rather volatile, dipping then rising back again on top volume to attempt another breakout above the 0.065 – 0.066 resistance level. A BULLISH rounding bottom bottom has benn spotted with resistance also at this level. Let’s see if it manages to stay above0.065 now in the coming days. Breaking above 0.070 would be a 2nd confirmation where we can expect more buyer to take it higher to close the gap to 0.080 in the short term. Stop loss at 0.063 for long positions now and raise it along the way.
Sent: Monday, April 20, 2015 9:18 AM
Subject: ********************** Potential Breakout: Pacific Andes - clearing above 0.065 can open the way out of consolidation phase, price 0.063
Subject: ********************** Potential Breakout: Pacific Andes - clearing above 0.065 can open the way out of consolidation phase, price 0.063
Pacific Andes has consolidated below the 0.065 resistance level since December last year and today we have seen it attempting a breakout above the 0.065 on top 5 volume. 20 day MA line on the verge of crossing above the 100 day MA and at current levels have also crossed above the long term 100 day MA line. More confirmation on clearing of sellers from 0.065 - 0.066. A bullish rounding bottom pattern spotted with resistance also at 0.065. Immediate support would be at 0.060 and as long as it trades above there can still be an opportunity for rebound.
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