Watch for .045 SMA200 support/bounce, if no bounce
Post# of 56323
Posted On: 07/11/2014 2:49:08 PM
Watch for .045 SMA200 support/bounce, if no bounce due to low volume then look for .04 bounce on lower trendline support. If SMA200 support fails it will become resistance.
Very low volume at these prices indicates buyers reluctance due to SS as MM's continue selling off blocks, we may see MMs take buy/sell action between themselves to raise PPS short term then sell into increased volume.
Just about everyone buying or selling this stock is fully aware of the SS and now are reluctant to buy because they do not want to see more red than we have all seen so far. Unfortunately, IMO it is very easy for PPS (at this point) to drop with much smaller quantities of shares entering the market.
Shareholders can benefit here by being patient and have your GTC Limit Buy orders ready.
Watch for two things to occur:
1. MMs sell/buy in large blocks to stimulate the market (note that this would be temporary and is designed for MM's to sell into liquidity created by new retail buy activity
2. Sudden increase in volume which may occur at SMA200 which would indicate a genuine retail market or if SMA 200 fails then look for new low support levels to be followed by sudden increased volume once shares are absorbed or license issued/other significant news.
For longs such as myself, I continue buying on dips and continue to closely monitor price action. As I have said repeatedly, there are many twists and turns yet to be experienced in this sector but for those who are willing to capitalize on cheap shares the buying opportunities are here.
Clarification on the exact structure of FITX/RXMB would be helpful. I don't really see a JV as being significant here (to shareholders) although a merger would IMO be a significant step towards uplisting.
Very low volume at these prices indicates buyers reluctance due to SS as MM's continue selling off blocks, we may see MMs take buy/sell action between themselves to raise PPS short term then sell into increased volume.
Just about everyone buying or selling this stock is fully aware of the SS and now are reluctant to buy because they do not want to see more red than we have all seen so far. Unfortunately, IMO it is very easy for PPS (at this point) to drop with much smaller quantities of shares entering the market.
Shareholders can benefit here by being patient and have your GTC Limit Buy orders ready.
Watch for two things to occur:
1. MMs sell/buy in large blocks to stimulate the market (note that this would be temporary and is designed for MM's to sell into liquidity created by new retail buy activity
2. Sudden increase in volume which may occur at SMA200 which would indicate a genuine retail market or if SMA 200 fails then look for new low support levels to be followed by sudden increased volume once shares are absorbed or license issued/other significant news.
For longs such as myself, I continue buying on dips and continue to closely monitor price action. As I have said repeatedly, there are many twists and turns yet to be experienced in this sector but for those who are willing to capitalize on cheap shares the buying opportunities are here.
Clarification on the exact structure of FITX/RXMB would be helpful. I don't really see a JV as being significant here (to shareholders) although a merger would IMO be a significant step towards uplisting.
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