After being stopped out in late June, finally the Commodity Chanel Index (CCI) divergence on July 11th mattered — a buy at $4.70.
The stock has been slogging higher ever since, riding its short-term exponential moving average (see chart below).
It is challenging its down gap now. If it can get into the gap with some conviction, the run-up could accelerate.
Original discussion posted here:
http://www.traders-talk.com/mb2/index.php?/topic/167061-the-wild-and-crazy-sbgl/?p=765640
(click on the chart for a larger view – updated 8/29)
