RE:RE:LOOKING GOOD BOYS! 100K+ WALL @ $0.70 JUST GOT TAKEN OUT!Here is my Technical Analysis for what its worth....
Technicals this morning was the WORST or most negative its been in last 3 months!
Even right now with stock back @ $0.71 Histogram is -0.01 first time negative in months.
Slow stochastic crossed down on the 5th of September days ago which was original warning, with MACD crosing down yesterday (secondary confirmation)
- %k on SS is 41.26 weakest reading since June 25 to 26th when %k went from 28.91 to 45.94
If you draw an upwards channel trendline from July 23rd low ($0.36) across low on Aug 15th ($0.49) you will see that the bottom of the uptrend when extended which I WOULD CONSIDER BE BOTTOM is actually $0.65 Appears a lot of traders/shareholders @ $0.66 low today saw it as close to the uptrend as could be and didnt want to allow it to break down further with the technicals as weak as they were and with no news or PR to starve off weak hands... Big Buying came in - I bet a few of the LONGS on this forum and/or stocktwits are to be thanked for their contributions, and we got a push off the bottom to $0.72 today
At $0.71 - $0.72 we still remain in a downtrend.
I would be happy to be honest with a $0.71+ "close" today going into the weekend however for the uptrend to continue we need to see if not today then Monday:
A) BREAK ABOVE $0.73 as $0.73 is yesterdays high of day
B) BREAK ABOVE $0.77 to change trends as that is top of downward trendline formed since the drop from 52 week high.
C) CLOSE ABOVE $0.81 would signify a major change in trend and give us momentum and opportunity to retest $0.92 recent high
Volume has quickly slowed down so I dont expect two much action til last 20-30 minutes of day where truth will be told if more weak hands and "penny flippers" sell at the bid, or any new buyers enter the market before the weekend hitting the ask.