First off, thanks for the great comments, much appreciated. I thought I would update the chart again as many of you are concerned about where we go from here.
The latest chart:
Let's look back a bit to see what is happening here, a few weeks ago, we dropped off a cliff when the stock touched the top of the trading range in the low $ 15.00's on Thursday night. We dropped back to the uptrend line immediately and based out there and found support. We then broke out of a 2 week downtrend line and that began this rally. But before we rallied, we had to test support where I mentioned that the biggest bear battle line was drawn at $ 11.50/shr.. We won that battle with a huge pop the next day and set us up for a rapid rally. As you can see, the rally is always almost as violent as the drop .... but not quite.
So where do we go from here, I think time is on our side and we are driven by technicals and computers and they demand that we head for resistance which is not until you get to $ 17.00/shr this week. It doesn't matter what we do today as long as we are bullish which is a close above $ 14.20/shr.. There can be weakness throughout the day as we are seeing now, simply because traders take breaks from the action. You would likely see some major buying come into the stock in the last hour here. As I said, support is $ 14.20/shr and anything up to $ 17.00/shr is the tradeable range for this week. Don't expect the stock to reach $ 17.00/shr too quickly and don't hope for it as you would be setting yourself up for another huge crash here. You want it to make its way up, on great volume, when it slips back look at the volume to see if it is substantially lower than the raising volume. This is normal trade. Lots of stock is being traded here and that is why it can drop off on light volume. Ignore that and stick to your plan.
My plan is to take some profits on so huge gains here, but only for an $ .80/shr swing or more if it gets to $ 17.00/shr too quickly. I will be fully invested in the stock as long as it follows the rules. Someone mentioned the RSI reading and today that number is at 70.0 which is just starting to get over bought here. The last time we hit 86.0 the stock crashed so pay attention to that!
In closing, I feel there is something else to this rally, perhaps a huge announcement coming soon, it just feels like it to me. News trumps all else here. So good luck, don't try to read too much into 1/2 hour trading levels as the trend is now up, it has a whole day to trade so don't expect it to make new highs all day!