In normal price action Key Resistance at $1.18 should be a battle ground, just like $1 was, and before that .77 cents.

Usually these points are high volume, choppy, and either have a successful break-out or a retracement. That is why they are popular points to either.

1. Enter if bullish on a break-out.

2. Fade if bearish on the break-out

3. Sell to take profits.

Notice #2 and #3 are similar, a fade play, either by selling short, or just selling out and re-entering lower.

Fading or buying break-outs are two of the most popular trading styles, along with buying dips in an up-trend and selling rallies in a down-trend. (Break-out plays and trend plays)

Fewer people bottom fish and look to enter cheap on under-valued as there is usually no momentum and lots of pessimism at lows. Just like there is often over optimism at highs. That is a Warren Buffet type play.

So the ones fading break-outs are often the larger traders and professional, and going long is more of a retail game. But retail traders will mix it up a bit, with a long bias. Most professionals have a long bias as well, even if they claim to have a long/short fund, in reality it is usually over-weighted long.

Note that since 2008  for CTIX, selling ~ $1 and buying around 20 - 30 cents has been a winning strategy. So naturally $1 was quite the battle zone.