The Microcap Speculator submits: Reader Sam G. asked whether the technical outlook for Advanced Photonics (ticker: API), a stock I profiled earlier this month, "turned the corner" today.
Today's action was positive, as API broke out if the dowmtrend it has been in since the second week of September. However, I think it is too early to call a reversal. Today's move was only on average volume. Meaningful reversals are generally on higher than average volume.
While today's move was not an "all clear" signal, I think good things are on the way for API.
DISCLOSURE: I am long API. Not a recommendation to buy or sell any security. For informational and educational purposes only.
API 2-Month Chart
