$TPAC Just wanted to chime in on recent action.
Post# of 22940
Posted On: 02/04/2016 5:02:27 PM
$TPAC Just wanted to chime in on recent action. The most important thing to remember is that absolutely nothing has changed in regards to the company's fundamentals. Investors are known for anxiety and short-term memory in the face of red days, and those driving it down to cover are capitalizing on it. The company is only moving forward, and if all is as true as it seems, it is moving behind the scenes at a breakneck pace.
Another quick thing to consider as an observation. In order to make this clear, I need to refer all of you to stock charts so I can back it up with evidence. Pull up the daily chart for $TPAC and change the bar to 3. Since we started our turnaround this summer, there has never been more than four consecutive red days. I stated this in a post or two before, and if history serves to predict the actions of the future, this time should be no different. We are currently two days in; some of the downtrends only consist of three days in the red. Tomorrow or the day after would be probable times to buy again profitably, for retail, and for Bill in moving forward with the share retirement. Both in tandem, plus a short cover, would yield a nice slingshot. Also of note, one to two more days in the red, would cross the MACD on the chart and bounce our RSI off of the 50 range, again the point from which it normally bounces to uptrend.
With the RSI nearing 50 for a bounce, the MACD looking to cross, we have another few favorable conditions, on top of the cup and handle formation that was mentioned and depicted on the chart(see this post: http://investorshangout.com/post/view?id=3529286). We bounced off of the middle bollinger band/MA20. We closed above our pivot at .0046 as well, so that is another decent sign. The next day or two will determine as to whether that pivot remains as support. The MFI has turned up sharply recently, and CMF is in the green as well. Now, as far as where they may be able to manipulate it over the next two days, I would not be shocked to see this tap the high .003's before rebounding significantly.
In a quick recap: Fundamental are intact and company is moving along nicely. Bounce usually occurs around RSI50. And so far, we have yet to see more than four successive red days in a downtrend before a rebound. Also, company is retiring shares, purchase order(s) is/are being finished as we speak, and news is on the way.
Holding all shares long.
Another quick thing to consider as an observation. In order to make this clear, I need to refer all of you to stock charts so I can back it up with evidence. Pull up the daily chart for $TPAC and change the bar to 3. Since we started our turnaround this summer, there has never been more than four consecutive red days. I stated this in a post or two before, and if history serves to predict the actions of the future, this time should be no different. We are currently two days in; some of the downtrends only consist of three days in the red. Tomorrow or the day after would be probable times to buy again profitably, for retail, and for Bill in moving forward with the share retirement. Both in tandem, plus a short cover, would yield a nice slingshot. Also of note, one to two more days in the red, would cross the MACD on the chart and bounce our RSI off of the 50 range, again the point from which it normally bounces to uptrend.
With the RSI nearing 50 for a bounce, the MACD looking to cross, we have another few favorable conditions, on top of the cup and handle formation that was mentioned and depicted on the chart(see this post: http://investorshangout.com/post/view?id=3529286). We bounced off of the middle bollinger band/MA20. We closed above our pivot at .0046 as well, so that is another decent sign. The next day or two will determine as to whether that pivot remains as support. The MFI has turned up sharply recently, and CMF is in the green as well. Now, as far as where they may be able to manipulate it over the next two days, I would not be shocked to see this tap the high .003's before rebounding significantly.
In a quick recap: Fundamental are intact and company is moving along nicely. Bounce usually occurs around RSI50. And so far, we have yet to see more than four successive red days in a downtrend before a rebound. Also, company is retiring shares, purchase order(s) is/are being finished as we speak, and news is on the way.
Holding all shares long.
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