by Jeff Pierce, Zentrader
Below is one of the most bullish charts I’ve seen in awhile. Let’s start with the weekly and note the massively overbought RSI condition in June/July. This is often a warm up to what’s to come. Yes it’s a penny stock and that’s why it doesn’t make my tradewithZEN watchlist, but these are exactly the sort of momentum stocks I look for that can provide excellent returns. Check out the weekly chart of PLUG and I think you’ll see what I’m seeing.
RSI bullish trends oscillate between 80-40. We’ve corrected back to the 40 level this month so this could resume it’s uptrend any day now.
Weekly charts of QTMM looks strikingly similar to the period when PLUG started to make it’s big move.