At half day, Healthway Medical's trade volume exceeded yesterday's full day volume! We have a breakout on high volume! The resistance level at 13c has been taken out with a vengeance. Price touched a high of 14c before closing at 13.5c. If we have confirmation in the next session, a retest of 14.5c, the top of the earlier cup pattern is at hand.
MACD has risen strongly above zero. MFI did a sharp about-turn, forming a higher low in the process. OBV continues to rise, indicating continuing accumulation. A retest of 14.5c seems very likely. If 14.5c is taken out, I see an intermediate target of 17c, followed by an eventual price target of 19.5c!
30 Dec 09: Healthway Medical and Golden Agriculture
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