CHART/COMMENTS......It's not uncommon for people to take their money out of a stock if they feel it isn't going anywhere soon. In this day and age, the daytraders control most of these penny stocks. Some of us don't like it, but that's all part of what makes the market work. We love them when they drive the price up, but hate them when they drive it back down. If you and I had more nerve, we would play both sides like they do, and make money going both ways.
Looking at the technical indicators, I see a healthy retracement from a price high of .64 to .38 (which is .618 fibinochi number). This is healthy. All the other technical indicators have retraced nicely as well, ready for lift off again. I like the way the MACD Histogram, and the Stochastics have started their slow climb upwards. This usually preceeds the share price. Look what happened the last 2 times it made a centreline crossover.
Having said that, I think this is a very good entry point at .38. That's where I got in a few days ago, and will see what happens in the next week or so. If I see nothing happening to keep my interest, chances are I will move on also. I've learned the hard way to never fall in love with a stock, especially a penny stock. Remember, bulls make money, bears make money, but pigs get slaughtered.
Time to bring on good news.
Good luck to all with this one.
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what I don't get is who are all these sellers that keep us down at 0.38 cents?
I mean, the stock was 0.64 cents 3 weeks ago. Why would anyone want to sell way down here at 0.38? Makes no sense to me.
Company is going through a quiet spell just now so I guess thats part of the reason we're not moving.