Pacific Andes - clearing above 0.070 firmly can open the way out of consolidation phase

Where to now?

Sent: Tuesday, 12 May, 2015 9:21 AM
Subject: ****************** Potential Breakout: Pacific Andes - clearing above 0.070 firmly can open the way out of consolidation phase, price 0.066

Pacific Andes has still been consolidating from 0.060 to 0.070 for more than 2 weeks and it is trading just above the 20 day MA line consistently. There can still be a potential breakout opportunity if the 0.070 – 0.071 sellers clear out. Volume remains high as it consolidates slowly upwards. Let’s watch if the 0.070 psychological resistance gets taken out.  Range is rather wide at the moment from 0.060 to 0.070, can consider accumulating on dips for a rebound and a potential breakout as long as 0.060 holds in the short term.

Sent: Monday, May 04, 2015 10:19 AM
Subject: ****************** Potential Breakout furher: Pacific Andes - clearing above 0.070 firmly can open the way out of consolidation phase, price 0.068

From last week call, we are indeed seeing Pacific Andes breaking above the 0.065 - 0.066 resistance level today on top 5 volume. As mentioned previously, a bullish rounding bottom has been spotted with neckline resistance also around the 0.066 resistance level. Staying above 0.065 now can see more strength as it attempts a firm breakout above the critical 0.070 psychological resistance level which can open the way to 0.080 fast and close the gap. Note that at current levels, the 20 day MA line has crossed above the 100 day MA line convincingly which can signal an impending trend change at the early phase. Can average up on clearing of 0.070 – 0.071 and raise stop loss to ride further.