RE:RE:Beautiful PennantThe Shorters did alot of technical damage purposely breaking the pennant. With that technicians saw the pennant fail, they sold and then the cascading effect to .155c.
Where are we now? There are no bullish buy signals right now. Also the consolidation is showing lower lows and lower highs which is negative.
Being the stock is down 50% I am short term neutral with a negative bias and there could be a 3rd down wave to .13c-15c completing a 5 wave correction.
If you only have this stock and no cash you are vulnerable and won't be able to catch the 5th wave opportunities if they come..
What have I done in light of this? I went to my "war room lol" and repositioned myself and looked for a low risk, high gain opportunities and I found only one and started a large position on Friday but is not completed yet. I will be posting this pick sometime Monday.
What I will say about it is I recognize the stock pattern as super bullish from previous ones and it has a done very similar strategic moves RVV has done but is much cheaper and no shorting.
I still hold 80% of my position mostly purchased between .045c-.06c so I am not bashing but if the stock rises or drops I am ok with it.