Interesting scenario for #TRNX
The MACD is about to see either a crossover and back to .23 area or another gap up past .27. If you look at July 10-11, and 11-12 the MACD had similar patterns to crossover.
Scenario A) If it drops to .23 and holds, it would coincide with July 5th. If it breaks .23 then the next drop would be to .18 formed on July 9th.
Scenario B) The gaps are worrisome. There have been at least 6 gaps up and as far as I can tell only 1 down. That being said, this stock has been all over the place so I can see another gap happening. There is a wedge being created, but considering the bullish last openings, it seems to be likely it breaks out of the wedge up rather than down. On the other hand, there is a lot of buy/seller cancellation. It could very easily drop to .23 before moving up out of the wedge.
Monday will be interesting.
Scenario A) If it drops to .23 and holds, it would coincide with July 5th. If it breaks .23 then the next drop would be to .18 formed on July 9th.
Scenario B) The gaps are worrisome. There have been at least 6 gaps up and as far as I can tell only 1 down. That being said, this stock has been all over the place so I can see another gap happening. There is a wedge being created, but considering the bullish last openings, it seems to be likely it breaks out of the wedge up rather than down. On the other hand, there is a lot of buy/seller cancellation. It could very easily drop to .23 before moving up out of the wedge.
Monday will be interesting.
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