RE:Another test of 140. Going to teach a little lesson.
Its regarding VWAP. HIt the quote link above and it will take you to all sorts of financial indicators inclucing VWAP which is just under 1.40
Institutions that have to unload paper for their customers will use VWAP to sell their holdings. That's why you will see it go up repeatedly up above 1.40 and the unloading and volume picks up and it drops right through past 1.40 where it gets prepped up on low volume only to begin the process again.
TA is like a magnifying glass that helps you identify trends and patterns but you also need to
understand the underlying mechanics of it.
The big problem with TA is that this stock cratered from over 4 dollars when the hype regarding a strategic paterner did not materialize on LOW VOLUME. This is a big problem because essentially 90 percent of buyers are bagholders so you litterally need to go through 100s of millions of shares to get back to 4 dollars. Good luck with that!
Just my two cents.
apapas1973 wrote:
This is relentless. I will say of the 4 times we've tested this level since June, once was the breakdown and the others held. In each of the 3 times it held, the indicators have made a higher low each time respectively. They never followed the price down. Even the time we broke down it diverged. Anytime we have these signals, they're precursors to significant moves or trend changes. This can go on for weeks or months before we see the move. . The clueless naysayers can say what they want about technical analysis and how wrong I am along with everyone else. They're going to eat their words in a big way this time. Lol. GLTA