For the first time (after two attempts) since early Feb, the market closed above $5.00. The previous two strikes above that magic number were repelled during the daily trade. Now the market will have to confirm the move on even though yesterday’s run had stronger volume. It may be likely that the break above was met with some short covering so waiting a day or two for confirmation of additional gains may be prudent.
Major Support:$4.40-$4.26, $4.187, $3.972, $3.734, $3.63, $3.584-$3.522 Minor Support: $5.08, $5.04, $4.88, $4.60-$4.557 Major Resistance: $5.18
