In terms of degree of difficulty and also clarity of the daily chart configuration, it can be said that Optibiotix Health (LON:OPTI) shares appear to be offering would be bulls a surprisingly clear path to the upside. This is said even though the price action for the smaller small caps tends to be notoriously difficult to fathom, due to the nature of the newsflow and the relative lack of liquidity. But at least for Optibotix Health over the near term we can see orderly progression within a rising trend channel from October, with the major turnaround signal being the break above the 200 day moving average in November then around the 12p level.
Winding forward to the beginning of March and it can be said that the 50 day moving average at 21p is in focus as a major support feature, as it lies at the floor of a rising trend channel from the end of last year. The view is therefore with the latest break out above the January resistance level of 25p we are probably correct in following the price action at least while there is no end of day close back below the 50 day line. The target while the key moving average supports the shares is seen as being as high as the 40p level – the November price channel top, as soon as the next 1-2 months.
