[theory6453]

USAK has been on my watchlist for a while as it's had a very strong Stage 2 advance during the last year after making a Stage 2A breakout at the end of April, and since then has moved up over 150% on heavy volume. The relative performance has been very strong and it's been consolidating for the last few months on much lighter volume and has broken back below it's 10 week MA and so looks to be entering a pullback phase within it's Stage 2 advance.

The 30 week MA is a long way back at 9.38 which is almost 30% below current prices and there's no near term support other than the most recent lows. So it's one to watch over the next few weeks and months for if the consolidation/pullback completes and turns up again as the volume from the previous advance suggests that it will attempt to make a Stage 2 continuation move at some point if the volume stays light during the rest of the consolidation/pullback phase. Attached are the charts.

That is a great looking chart. A nice pullback into the $10-$11 range would be spectacular and then it doesn't look like it has major resistance again until the $18-$20 range. The 30 week MA has a really nice angle upwards in its Stage 2 advance.

Adding this to my watchlist as well. Thanks!