iGO, Inc (NASDAQ:IGOI) closes above upper Bollinger band


Dallas, Texas 07/15/2013 (Financialstrend) –A Daily white body has formed (because prices closed higher than they opened).

For the past 10 Daily candlestick bars as of 12/07/2013, there are 3 white candles versus 3 black candles.

For the past 50 Daily candlestick bars as of 12/07/2013, there are 21 white candles versus 19 black candles with a net of 2 white candles.

A Daily rising window has formed (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 5 rising windows in the last 50 Daily candles–this makes the current rising window even more bullish.

The MACD is currently BULLISH. The MACD is currently above the signal line. The MACD crossed above the signal line 1 period(s) ago.  Since the MACD crossed the MACD moving average, IgoInc’s price has increased 49.34%, and has fluctuate from a high of 3.500 to a low of 2.280.

The RSI is above 70. This is where it usually tops.The RSI has just reached its highest value in the last 14 period(s). This is BULLISH signal.

Currently, the Momentum Oscillator is in an overbought condition

A SAR Buy signal generated today. If you are short, this might be a good place to exit.

The close is currently

ABOVE its 200 daily moving average

ABOVE its 50 daily moving average

ABOVE its 20 daily moving average

The current market condition for IgoInc is Very Bullish

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Because this is a trend following system, it should not use to initiate any trades right now.

On 12/07/2013, iGO, Inc (NASDAQ:IGOI) closed above the upper Bollinger Band by 56.3%.  Although prices have broken the upper Bollinger Band and an upside breakout is possible, the most likely scenario is for the current trading range that IgoInc is in to continue.  Bollinger Bands are 12.36% wider than normal.  The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

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