Asia Broadband, Inc (OCT: AABB) soared 230% higher between Oct. 28 and Nov. 2 where it topped out at 28 cents. The stock has since been in a period of consolidation, with no clear trend on the daily chart.
- Asia Broadband made a lower high on Nov. 12 and the 27-cent mark after making a higher low on Nov. 3 at 15 cents. This indicates the stock may form into a pennant pattern on the daily chart.
- On Tuesday, Asia Broadband was working to print a bullish hammer candlestick, which indicates higher prices may come on Wednesday. If the stock is able to trade above the most recent lower high Asia Broadband may begin a new uptrend.
- There is resistance above near the 24-cent level and just below 27 cents, while there’s support below at 20 cents and the 18-cent level.
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