On June 2 my post number 27887 indicated testing t
Post# of 56324
Posted On: 06/03/2014 4:58:01 PM
On June 2 my post number 27887 indicated testing two support levels that may fail on low volume trading. Today .0568 low was between the two supports which shows one of the two supports indicated did fail and today's close .0608 shows that these limits continue being tested.
Trendlines indicate.0545 - .0590 trading range likely tomorrow. (on continued low volume) although numerous supports @ .0560 may still hold, If not then look for ,0458 as next support level, My projected trend lines are showing SMA200 bounce around .0435 if low volume persists this week, For those of you that do use GTC Limit orders it may be possible to continue accumulating in this range this week (assuming low volume continues).
IMO, the last week runup was due to MM's actions designed to bring in outside capital then sell off more of the formerly restricted shares. It is unlikely that this will continue for more than the 2nd to mid 3rd week of June. The above are my opinions based on charting/price action and other conditions associated with this stock, Please use your own due diligence and specifically not rely on any of my opinions.
Trendlines indicate.0545 - .0590 trading range likely tomorrow. (on continued low volume) although numerous supports @ .0560 may still hold, If not then look for ,0458 as next support level, My projected trend lines are showing SMA200 bounce around .0435 if low volume persists this week, For those of you that do use GTC Limit orders it may be possible to continue accumulating in this range this week (assuming low volume continues).
IMO, the last week runup was due to MM's actions designed to bring in outside capital then sell off more of the formerly restricted shares. It is unlikely that this will continue for more than the 2nd to mid 3rd week of June. The above are my opinions based on charting/price action and other conditions associated with this stock, Please use your own due diligence and specifically not rely on any of my opinions.
(0)
(0)