Two charts have caught my attention, one potentially bullish (Singpost) and the other one potentially bearish (ISOTeam). Below are my personal views.
ISOTeam – hanging near critical support
Based on Chart 1 below, ISOTeam has been trading in an approximately 10 month range $0.370 – 0.430 since Jul 2016. Most exponential moving averages (“EMAs”) such as 20D, 50D and 100D are sliding and compressing. This compression is usually unsustainable over the long term and may signify a possible significant price movement. ADX closed at 24. Although the directional indicators (“DIs”) are positively placed, +DI is turning downwards quite rapidly. The (relatively) large price movement occurred on 3 May 2017 pushed ISOTeam to an intraday high of $0.405 with 1.2m shares traded. The next three trading days will be T+5, T+6 and T+7 for ISOTeam. It will be interesting to see whether ISOTeam breaks the support ......