IF THERE WAS EVER A TIME THAT CORRESPONDS - ITS TH
Post# of 1525
Posted On: 04/08/2016 9:26:27 AM
IF THERE WAS EVER A TIME THAT CORRESPONDS - ITS THIS ONE
After consolidating for roughly 25 days off our previous breakout high, we began a 2nd consolidation phase that lasted roughly 25 days. Both ended the consolidation in the same way...3-4 days bouncing off the 50MA, and making the move as we hit the "cloud".
Whenever a stock has an UP day, people want confirmation... Look back at 1/19 which is the first UP day after consolidation...That day we traded just 2.25M shares and finished up 10%... BUT... during that day we were tested... We went BELOW the close of the day before mid-day, before finally closing UP... Then the following day confirmation was needed because of the action the day before... That following day 1/20... We had an increase in volume, and another TEST... we traded well below the close of the previous day, and almost broke the low set that day as well! That is TODAY on our chart... We can expect a test today. We can expect people looking for confirmation, and increased volume 2.5M+ shares... Then a closing UP, but not much higher than yesterdays close (.0440-.046)
After this confirmation we should see the volume, and momo make its way back here. Mix it with the news we know is on the way, and the next leg-up is in its infancy...
Notice we have been making higher lows AND higher highs these past 3 days...even stronger than it was 1/15-1/20 when there were only 2 days of successive higher lows AND higher highs...
The writing is on the wall here. Expect to be tested today. Smart money will buy the DIP. Smart money will also HOLD the pop....
INVEST WISELY
After consolidating for roughly 25 days off our previous breakout high, we began a 2nd consolidation phase that lasted roughly 25 days. Both ended the consolidation in the same way...3-4 days bouncing off the 50MA, and making the move as we hit the "cloud".
Whenever a stock has an UP day, people want confirmation... Look back at 1/19 which is the first UP day after consolidation...That day we traded just 2.25M shares and finished up 10%... BUT... during that day we were tested... We went BELOW the close of the day before mid-day, before finally closing UP... Then the following day confirmation was needed because of the action the day before... That following day 1/20... We had an increase in volume, and another TEST... we traded well below the close of the previous day, and almost broke the low set that day as well! That is TODAY on our chart... We can expect a test today. We can expect people looking for confirmation, and increased volume 2.5M+ shares... Then a closing UP, but not much higher than yesterdays close (.0440-.046)
After this confirmation we should see the volume, and momo make its way back here. Mix it with the news we know is on the way, and the next leg-up is in its infancy...
Notice we have been making higher lows AND higher highs these past 3 days...even stronger than it was 1/15-1/20 when there were only 2 days of successive higher lows AND higher highs...
The writing is on the wall here. Expect to be tested today. Smart money will buy the DIP. Smart money will also HOLD the pop....
INVEST WISELY
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