Test of Moving Average Holds — Prices Rebound

Daily Continuous

Very rarely do I utilize a moving average test as a serious test of support– but looking at the chart is very evident that buyers com in as prices test the 50 Day SMA since it broke out above last month. The range discussed now has to evaluate the high side as to where to profit, or hold for further gains.

Major Support:$8.02, $7.55, $7.14, $6.88, $6.754,$6.38, $6.02, $5.623,
Minor Support: $7.41, $6.42, $5.548, $5.40-$5.45
Major Resistance: $8.95, $8.996-$9.057