Prices moved above the several-times-tested $3.10 to $3.12 resistance area last month. While it remains to be seen whether this break can be sustained, the moving averages are all rising, moving in tandem with prices. So far, the 50-day moving average ($3.16) has proven to be a good support line.
The break above $3.10 indicates a target of $3.80. That may appear on the high side. Technical targets are potential, and sometimes prices may not achieve their potential although in this case, there are no indications that prices cannot reach $3.80. Support is at $3.10.
