You are still seeing a lower highAnd lower low share price on the daily time frame of the Candlestick charts
So the bearish downtrend continues...
Essentially, we have what you call a "falling knife." Hexo has tanked from $1.73---after stock was run up, to .97 cents....
Your options are to
- hold long and wait for next earnings
- buy as the stock price drops, which means your average price will become lower
-look for the Moving average crossover---when the 10 period time frame moves above the 20 on the hourly or 4 hr or daily chart
- Or buy in at support---.87 cents or lower; be sure to set a stop loss.
--or wait for a higher low share price and higher high share price on the daily time frame, which often indicates a swing low/ bullish reversal, but you need confirmation next trading day....
Anyone trading must learn the basics---uptrend, range ( support and resistance), downtrend. And to understand the trend, you must learn to read candlestick charts for different time frames....
As well, learn the moving average and moving average crossover----charts and technicals will give you essential tooks to know when to make an entry.
That being said, no chart or tecnical indicator is the Holly Grail----that is why you set a stop loss.