Yet another strong advance for Good Vibrations Shoes has the price action looking potentially overextended, and possibly due a correction of some degree. Observe the logged chart in figure 1.
The red line shows the 50-hour simple moving average, with the green line plotting the 150% upper percentage band. On both prior occasions when the upper band has been tested or exceeded, price has entered a period of correction or sustained consolidation. Once again price has exceeded the upper band.
Note also the bearish divergence present in the RSI. With price making higher peaks and the RSI only able to make equal peaks, the RSI is signalling that the uptrend may be running out of steam. Further, the RSI topped out around the 81 level, which has historically coincided with peaks. There are a number of reasons to believe this stock is currently overbought. There is a good chance we see a downside correction of some degree unfold from here.