Down over 35% in 5 days - Bloodbath is buying opportunity I am buying this morning:
This shakeout in the market caught everyone by surprise with its wide swing, that include myself. I went further to look at the 5 days drop pattern and from where we started the price boost from 0.435. I bring myself to believe that we have seen the bottom @ 0.55 and the volume calculation for these 5 days of pullback matches half of all up days since then. The movement will still be volatile in a tight trading range in the 0.58 to 0.64 or more specific around US 0.5 until it can break through this on good news.
This morning I bought all the way down in small quantities from 0.58, 0.56 to 0.55. If price goes as I predict it would be next week I continue to buy and stop at 0.65, as I started selling @ 0.68 to 0.91. Also add a larger than normal stink bid to buy @ 0.475 to capture a surprise market jittery for next Monday Morning. All being said is an example of my trading style during these whole ups and downs, not meant to be advice of any sort.
Overall my core holding is not touched because I think this stock will eventually go higher than 0.91 (where I stop selling this round) in the long term. Of course, always do risk assessment as long as I hold shares of Reliq which I continue to have questions, as referring to my last post, but can’t find answers to them.