Levels I am watching to 'MINDLESSLY' add this weekThis is a classic definition of a 'Mexican Standoff' to start the week = Voume tentative and price standing pat ..my GTC bids are in @ 2 levels
Definitely would be good & healthy to register a higher low on the Daily chart after making our higher high last week @ 1.84
Last higher low was all the way down @ 1.31 Sept. 10th then straight shot to 1.84 ...my guess is higher low will be 1.58ish a 50% re-tracement of that move and very clear support level / pivot point on the chart
That 7 session ascent had RSI in to oversold - only took 2 short weeks to re-trace the 5 week decline after that picture perfect 200 DMA touch = running a little hot now and without news likely rolls over a bit for the much needed HIGHER LOW ...somewhere ...
1.70 is the obvious first support and appears well bid atm as do the .60's
I do think with the distance up and away from the 8 MA all last week it's more likely price and it will tangle in search of the higher low ... currently 8MA = 1.66
Fundamentally in the absence of the highly anticipated BOO 'anytime' now, impatience and anemic volume could potentially trigger another stop run to 1.50ish if another week or two goes by in silence on that front ..
BRING IT! ...Chart is also a bit gappy in that area again on Sept. 13 denoted with the green arrow although wicks overlap the candle bodies do not ..debatable if it is a 'gap' I call it semi-gap
AND Lord knows the Market Makers want as much inventory as they can get their hands on before the 2 handle arrives AS DO I ... now that a new higher high is in place....it's BTFD time again ... that is for those who 'mindlessly' use their 'imagination' pertaining to what this company 'might' have 'cooking'
Besides 1.50 which is currently the middle bollinger band/18MA on my chart (green dots - anything above is in bull zone / below is bear zone) other supports in the black horizontal lines are transcribed from the WEEKLY time frame .. I have supports at 1.58 & 1.47 but highly doubt anything below mid 1.50's becomes available imo
Anything can happen on an intraday flush but I bet closes remain very close to the 8 MA as we've seen on countless occasions the lightning fast recovery after a stop run
Warrants just hit ATH .35 up 40% suggest none of the above is in play LOL
Just sharing what I'm watching for
