XEM primed for move upward after breaking off trendline
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XEM has broken off of it's current trendline, indicating that it might be ready to break out. We have it breaking out above the cloud with the Tenkan moving above the Kijan.
Macd also indicates strong momentum upwards, and we hope the STOCH will continue it's move back to the top of the channel.
Short/Midterm target (1-2 weeks) is around the first resistance level at .000087, indicating about a 25% gain.
Macd also indicates strong momentum upwards, and we hope the STOCH will continue it's move back to the top of the channel.
Short/Midterm target (1-2 weeks) is around the first resistance level at .000087, indicating about a 25% gain.
Note
Broke down back into channel after bouncing off the top a few times. Now in the cloud, and we'll have to wait and see if it continues back upwards out of the cloud or down further into the channel.
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