Orchard Parade has stopped its downtrend and started consolidating. Support level at $1.11 is strong.A breakout of the $1.28 level will have resistance at the 200 day moving average as well as the horizontal consolidation region at $1.54.
Using the SMA/EMA crossover trend change system of trading, it could be considered that a 2nd crossover occurred on 21 April 2008. According to the system we look for the next candle that forms a lower low and lower high compared to the previous trading day after the crossover. This would have occurred on 29 April 2008.
Buy the stock if it breaks above the high of 29 April 2008, which in this case is $1.28
Personally I don't think that will happen so soon.
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