T.A and BUYING OPPORTUNITIES Before I fak off to enjoy my weekend - to the best of my ability anyways, wanted to give my end of week insights, and TA, as well as the levels I will be looking to buy as I been getting a lot of texts from various posters on this board....
BOTTOMING PROCESS
Since March 12th where we did a big GAP DOWN (Open $0.385 from closing at $0.51 day before) the stock appears to be trying to bottom and find a SUPPORT trading in the range of $0.30 - $0.40 which brings us back to the support levels found BETWEEN JANUARY AND JULY 2019 and was also more or less the channel between JULY and AUGUST 2018....
THEREFORE $0.40 ISH BECOMES AN IMPORTANT LEVEL TO WATCH FOR BREAK OUT OF THIS DOWNTREND, and $0.30-$0.40 should prove to be good buying range once this CV19 issue and fear mongering by the media resides and we go back to our normal lives!!!
That said 6 of the last 12 trading days we have hit/broke $0.40 but could not "CLOSE" above it... one day we did close at $0.40 and then got dumped from opening bell the next day so proved to merely be a fake out!
WHAT'S NEXT?!?
After March 26th most recent failed attempt at $0.40 (hit a High of $0.42 but closed at $0.38) it appears (especially high probability if markets sell off next week) to be heading back to retrace and retest the $0.30-$0.32 level.
AM I BUYING OR WHEN AM I BUYING AND WHERE WILL I BE BUYING?!
I am looking at 3 different distinct price points before I start buying:
A) Preferably I feel most confident in taking the approach of waiting for the Stock to climb and close back ABOVE $0.40
B) Intraday stock price hits $0.43 I will more than likely ensure I am holding at least half the position I want to own/hold as there is a gap from $0.43 to $0.51 which given this stocks illiquidity could run to $0.50 fairly fast and nice little 12-15% gain to be made there.
C) I may Bottom feed a bit at $0.30 - $0.32 but ONLY 1/3 the shares I want to own/hold. This said should I buy shares at $0.30 - $0.32 and it falls and close at $0.29 or lower I will more than likely take a small loss and get the hella outta dodge!
I DO NOT WANT TO SEE $0.20'S!!!
A few posters have mentioned $0.20's and I just shake my head.... cause I can tell you right now, if this goes back to the $0.20's not only will LONGS here panic, the entire investor base and insiders will start to panic as well!
I DONT LIKE GUESSING TOPS OR BOTTOMS....
I believe in "trend is your friend" and look to jump on trades, and even investments when the trend is in my favour, and momentum in the stock/sector/markets are on my side.... which right now its none of the three as markets could give back recent gains and retest recent lows, the sports world needs to get back to business for sustainable gains in Scores stock price, as lack of professional sports is undoubtably hurting the sports gaming sector as a whole, not only Score!!!
I LOVE THIS STOCK- COMPANY AND PEOPLE RUNNING IT, AND THIS IS ONE OF THE BEST BOARDS IVE EVER BEEN A PART OF.... that said, I just dont see this being a great "investment" or even trade for that matter at the moment!
I appreciate everyone's insights and posts, and thank you all for the time and efforts you bring here... I can tell you all one thing- when this sector is on fire again, and Score goes to a buck+ going to be hundreds of new posters that will give papi a greater heart attack than the pennyflippers and we wont have the same vibe/communication so lets all enjoy this board before it becomes a bigger $hitshow than todays political parties....
Good luck to all, and be back Monday morning... stay safe and stay healthy... God Bless