Posted On: 08/23/2015 4:34:50 PM
Post# of 11040
"...bullish engulfing candlestick..."
halbaag Sunday, 08/23/15 03:40:58 PM
Re: sanders11 post# 18673
Post # of 18706
Yes, I would suggest that the size of the bullish engulfing candlestick we saw on Friday (after the hammer and haramai bullish pattern), along with the volume/MFI indicate a longterm bullish reversal. We'll have confirmation on Monday I think, if we break the 50 DMA, which I have no doubt of.
The 200 DMA is at .15, and that is where I see us stopping here. So I predict much higher than 1000%. I didn't mention this because it is a bit too early to say and things could change between now and then. One important resistance will be at around .008, which is where we saw the tip of a doji hit on July 27th. But this was before the really good news had struck, so I think we'll puliverize this resistance.
I typically have a rule, in penny stocks where I don't invest till I see several things occur, and that is: huge news consistently near the bottom, a bullish reversal pattern, and a low RSI in a momentum upswing. We have all of those things right here.
Here is the chart I look at typically:
CRGP Chart
http://stockcharts.com/h-sc/ui?s=CRGP&p=D...4676284220
$CRGP
halbaag Sunday, 08/23/15 03:40:58 PM
Re: sanders11 post# 18673
Post # of 18706
Yes, I would suggest that the size of the bullish engulfing candlestick we saw on Friday (after the hammer and haramai bullish pattern), along with the volume/MFI indicate a longterm bullish reversal. We'll have confirmation on Monday I think, if we break the 50 DMA, which I have no doubt of.
The 200 DMA is at .15, and that is where I see us stopping here. So I predict much higher than 1000%. I didn't mention this because it is a bit too early to say and things could change between now and then. One important resistance will be at around .008, which is where we saw the tip of a doji hit on July 27th. But this was before the really good news had struck, so I think we'll puliverize this resistance.
I typically have a rule, in penny stocks where I don't invest till I see several things occur, and that is: huge news consistently near the bottom, a bullish reversal pattern, and a low RSI in a momentum upswing. We have all of those things right here.
Here is the chart I look at typically:
CRGP Chart
http://stockcharts.com/h-sc/ui?s=CRGP&p=D...4676284220
$CRGP
(0)
(0)
