Post by
Enrique on Aug 06, 2021 12:19pm
Forget the Pumpy Mess this Board is, Follow the Charts
[img] https://cdn-ceo-ca.s3.amazonaws.com/1ggqnmd-Screen%20Shot%202021-08-06%20at%2012.08.09%20PM.png[/img]
Pretty clear on Stockhouse, CEO, Twitter that people have their own intentions and usually not out for the better interests for you. Take this with a grain of salt as you wish, but really follow the charts; this summer has been a bit of tuition for me (in terms of sacrificing a bit of this year's enormous gains) no matter how much one can like a company to do so. Cash is king.
That being said, if you were in MRS earlier this year and were smarter than me (wholesomely admitting this) and of course some of the infamous helium heads on this board, and you managed your money accordingly due to macroenvironment (eg. lack of communication, weak small cap market) and to technicals, you're probably laughing now loading up in the mid 30s.
That being said, there's actually some promise to that chart. It's forming a rounded bottom and if we finish at .38, it'll be the first time since mid-June we'll be over the 20 day moving average, which was a good support line for us until it broke (June 14th to be exact).
^ This also lines up accordingly with the fact I have noticed small caps across multiple sectors forming bottoms like these or double bottoms, and the fact that action has improved measurably across my board this week (volume and price action wise). Of course, this all depends on any surprises in the coming weeks in the general market and yes, it is still the first week of August, but personally I don't think cautious optimism is unjust from a technical and macroenvironment standpoint. Fundamentals sure they are here as long as the revenues are sustainable (which according to many here will be the case, I'm more in wait and see mode) but as we have clearly seen, no matter how much you back a company, love it to death (probably more than peoples' wives on here) and how "undervalued" it may be, it still needs the necessary macroenvironment and technical structure to make those fundamentals realized.
Just pitching in my two cents before the pissy match resumes, but as I say take it with a grain of salt if you wish, but more of a visual take rather than an overly biased one.
Comment by
Ciao on Aug 06, 2021 4:33pm
One could ignore the incessant pumping here and put in a buy stop order at .41 to average up (or add) on a breakout.