Tranzbyte Corporation ERBB
ERBB put in another solid performance yesterday, reaching higher highs, and holding higher lows for the third consecutive trading session. Our confidence in this play has been growing since last week; we even added more ERBB yesterday based on how good the level two has been looking, and how the chart continues to set up ever-so-nicely.
The 20DMA is almost ready to crack the 200DMA, and we are patiently awaiting for the “Golden Cross” which could come as soon as next week. The Slow STO saw a crossover yesterday, reassuring us that ERBB is running with the bulls.
Early on in yesterday’s trading session, there was a wall of resistance with several million shares for sale in the mid-.005 range. However it was easily breached with the excessive buy-side pressure ERBB saw into the close. Closing at the high of day is always a positive note, and a sure sign of strength; leading us to believe that ERBB has a lot more left in the tank.
On an added note, we’d like to wish you and yours a safe and happy Thanksgiving. For those in our audience who do not celebrate, enjoy your day off however you choose to spend it, and we’ll see everyone bright and early Friday morning to close out the week.