Until FITX does get and announce license IMO, it w
Post# of 56324
Posted On: 09/15/2014 2:56:42 PM
Until FITX does get and announce license IMO, it would be better served to take this time to focus on TA. I say this because absent the above the trading will continue within its present channel. Having said that here are my thoughts based on TA. Again,and absent the announcement of a license......
RSI is currently high, most buying occurs at the 46 to 48 range.
Shares entering the market since July 21 are being rapidly accumulated
MACD (Weekly) still shows trigger has not crossed over but is rising and looks to be near a crossover
Watch for low .0630 if no bounce .0577, Remember the SMA 20 then becomes resistance rather than support. If a bounce off .0630 then look for .0719 range high with possible test of .0810 (provided we see movement to and above .0719)
For those brave enough to trade the range keep in mind this is a fairly tight range in a channel. The best strategy IMO is to target the low for accumulation is GTC Limit buy orders.
This is weekly, so keep this in mind. If license is announced I will do a revised TA
RSI is currently high, most buying occurs at the 46 to 48 range.
Shares entering the market since July 21 are being rapidly accumulated
MACD (Weekly) still shows trigger has not crossed over but is rising and looks to be near a crossover
Watch for low .0630 if no bounce .0577, Remember the SMA 20 then becomes resistance rather than support. If a bounce off .0630 then look for .0719 range high with possible test of .0810 (provided we see movement to and above .0719)
For those brave enough to trade the range keep in mind this is a fairly tight range in a channel. The best strategy IMO is to target the low for accumulation is GTC Limit buy orders.
This is weekly, so keep this in mind. If license is announced I will do a revised TA
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