GREY:VFGGF - Post by User
Post by
inviolablspiriton Jul 24, 2013 11:50am
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Post# 21627347
Do you recall.... ?
Do you recall.... ?If you recall my last post (June 28th)...
"I don't think we're looking at the same chart banker. If you draw a trend line along the top of those peaks you will notice that the trend continues to be down. The stock needs to move beyond the 0.67 and past the last resistance of 0.74 to break that trend. The stock could be putting in a bottom as you say which means it would likely retest 0.60-0.62 range again before moving up. Unfortunately we are also heading into the summer months of low trade volume so there is a chance the stock gets forced down a little lower before it begins its recovery."
I tried to explain a little technical analysis and what typically happens to stocks in the summer months so investors on this board could make some informed decisions. If you want to make money you need to do a little studying and understand the seasons and the cycles. I wasn't bashing, I was providing information which is what a bullboard is for. But I notice that any information that is not positive is almost always considered bashing.
Currently on the bullboard there has been a lot of talk about what their Q2 results may look like and thier release, has anybody here even called the company or looked at when they've released Q2 results in the past instead just speculating and relying on some guy from BNN for their information??? Typically Pinecrest releases their Q2 results in August, but you would need to call the company to be more accurate.
Also when a stock is on a downtrend the RSI usually remains between 20 and 60 as opposed to an uptrend were it will usually hover between 40 and 80. The RSI on Pinecrest never got over 60 on it's last move up. In fact on it's continued downtrend from it's highs it never reached 60 at anytime. Welcome to the world of technical analysis! Just understand that news releases - good or bad, can throw the techical crap out the window.