$1 dollar is technical and "psychological" resista
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Posted On: 12/28/2019 5:57:10 PM
$1 dollar is technical and "psychological" resistance. Maybe one due to the other (it happens often).
To break through it we will need a very good volume or gap up.
We have had te average volume multiplied X10 in the last 5 days (5 million+ as compared to 500K+). Still not clear to me where this is coming from (difficult to believe is retail investors only, however institucional investors do not normally "fish" in OTC markets). I suspect technical scans highlighted the volume spike on 12/18 bringing more players from investment boards/groups.
Technically it would be good to form a base around $1 and churn for few days (stronger hands taking control) and then wait for a catalyzer and continue ahead. This rate of appreciation is unsustainable (don't take me wrong, I am not saying the current price is fair).
What to expect for Monday ?? Maybe another attempt to break $1 and failure unless we have a 7+ million volume, or a good PR. I really hope we don't go back to fill the gap at $0.65. As I said before, I prefer slow, steady climb with moderate volumes.
We will get there … slowly.
To break through it we will need a very good volume or gap up.
We have had te average volume multiplied X10 in the last 5 days (5 million+ as compared to 500K+). Still not clear to me where this is coming from (difficult to believe is retail investors only, however institucional investors do not normally "fish" in OTC markets). I suspect technical scans highlighted the volume spike on 12/18 bringing more players from investment boards/groups.
Technically it would be good to form a base around $1 and churn for few days (stronger hands taking control) and then wait for a catalyzer and continue ahead. This rate of appreciation is unsustainable (don't take me wrong, I am not saying the current price is fair).
What to expect for Monday ?? Maybe another attempt to break $1 and failure unless we have a 7+ million volume, or a good PR. I really hope we don't go back to fill the gap at $0.65. As I said before, I prefer slow, steady climb with moderate volumes.
We will get there … slowly.
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