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Message: Consilidating here...

Redhawk has recently touched its 200 SMA which was also a support level and is now at a minor resistance level with Friday's close at $0.70. Indicators are showing oversold and have begun to turn upwards. Looking at the chart it is clearly posting a down trend with the last three upward thrust and failure to post higher highs each time. What I am hoping to see on its next move up is a break of the down trend line. Entry at this level with a stop loss just below support of $0.65. First target would be the top of the trend line which should be about $0.78 by the time it gets there for gains of 11.4%. Next target should it break the top trend line would be $0.93 for gains of 32.8%. If you look at the yearly chart, this is clearly a consolidation period before its next move up.

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