Sunvic: Technically, the long term uptrend is still intact, however the recent failure to make a new high beyond $0.80 suggests that a near term reversal may be takng place. This scenario is further corroborated by the fact that technical indicators have also begun to hook downwards.
Expect a pullback towards near term support at $0.70...
However given that this stock is trading at just 3.4x P/E, long term investors may consider buying on weakness. Technically, downside may be limited given the firm support level at $0.60.
Technicals indicate likely dip in counter over nxt few days. Stochastic turning downward after trading in overbought region and MACD turning negative. Resistance at $0.79 with support at $0.70, prev bottoms and 100 day SMA. Long-term trend still appears to be positive and nxt catalyst likely to be earnings, est results release on 13th May. Co still trades cheaply at slightly over 3x current P/E.
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