TUGS:
- Long Green Candles on both Weekly and Daily Charts
- The stock broke out of the resistance at 5, nearing its next resistance at 5.3.
- Volume is increasing
- Price is at the border of the upper Bollinger Band (good momentum)
- The stock is still respecting the moving averages as support, and just bounced as it neared both the 20 and 50 day MA.
- MACD showing a buy signal (Daily Chart)
If I were positioned in this, I would hold and see if it breaks out of 5.3. Next target price is around 6 to 6.6 per share.
If I were looking to buy, I would buy if the stock breaks out of 5.3 and shows conviction. If not, avoid it since it is near the resistance.
TUGS has been on an uptrend since September 2017, and all moving averages still show signs of bullish continuation. Ride the trend so long as it lasts!
These are merely my own analysis as a swing trader, and not any recommendation to buy or sell. Please study the charts and stocks before executing your own trades.
Learn how I analyze stocks using my trading system.