Post by
Snowballer on Aug 08, 2023 3:58pm
Few Pennies Back, Many more Pennies Forward...
Since the first rejection at the 200DMA (red candle on the daily) which was also the $5.54 high, we've had nothing but green candles pushing up against that 200DMA.
The RSI is above 70 and the MACD looking stretched.. alsmost seems crazy being long here but I think this pushes up. My FOMO position is in the money and I think that move up to $6 is right around the corner. Time will tell.
Comment by
dllscwbysfn on Aug 08, 2023 4:14pm
So this morning you talk about a $4.00 sp and this afternoon you talk about $6.00 sp. I am thinking you will be right!!
Comment by
Snowballer on Aug 08, 2023 4:17pm
haha me too! lol that's simply me forecasting upside vs. downside. Both are real and can surprise in either direction. The more technical information available as time goes on the better the trade or at least confidence in the direction at least for me. *note: rejections of 200DMA is bearish, constant re-testing of same is bullish.
Comment by
dllscwbysfn on Aug 08, 2023 4:34pm
I find that hindsight has proven to be correct most of the time, maybe always,lol.
Comment by
Snowballer on Aug 08, 2023 5:13pm
Technical indicators are lagging indicators, after all.