Shares of Artivision have been rising in price tremendously since end Dec. Its price has more than doubled in this 2 months, far outstripping the price in the June high. Note the breakout in December and the support line that has been produced.
Very very strong uptrend again.
1. The diagonal support line is a major support now having been tested on 2 occasions on mid Jan and 2 days ago. very strong rebound off the diagonal and 20d MA, signalling a strong uptrend.
2. The MA volume line has been trending up very neatly since December and doesn't show signs of a loss in investor interest. Volume + Price action is healthy.
3. MACD Green histogram bar has appeared on 14 Feb day of trading. Of course, it may be too early to determine a bullish state given the first green histogram bar but look at the way the trend is support by the diagonal. Obvious confirmation with the green histogram.
4. RSI has turned and heading up again.
Given the relatively decoupled nature of this stock from the STI movements and shear investor activity in staking a claim in this once-penny stock, it should rise in the next couple of days. Using a fib projection on the latest rebound, expect take profit to be around $0.345 region. Do not wait for too high too given the stock's daily is still in pretty overbought regions, at least soon.
Healthy trading with clear trends minimise risks. Remember.
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