UNLA | Unilava Corp: Momentum Alert

Unilava Corp. UNLA

We have yet another momentum alert for you this morning. UNLA has come to our attention via our abnormal volume scanner as a stock that has begun an uptrend after coming off of a recent bottom. The last time the stock traded the level of volume that was observed yesterday, was in late December to early January, and it ran from .0025-.03. Conditions on the chart suggest it could be gearing up for another breakout, so we wanted to pass it along this morning.

On the chart below you can see that UNLA currently boasts an RSI that is getting ready to pass through the 50-line and the 50DMA. There was a hammer candle formation yesterday, as the stock bumped its head into the 50 and 20DMA’s at .0066, and .0069 respectively. The PPO is currently pinching, and preparing to cross, and the Slow STO recently crossed over, with the lines beginning to diverge.

It seems .013 and .03 are the next main areas of resistance following the 20 and 50 Day Moving Averages, so any trouble UNLA might have getting over those humps may be an indicator to take whatever profits we’ve gained by that point off the table.

Extended Watchlist: