In my opinion, chart technicals do not matter very much for illiquid volatile sub penny PK stocks, especially when the volume moves so low for so many days after a high volume couple of days prior. The patterns lose some of their meaning in such an environment IMO because of the uneven volume disposition over time. For instance, whenever there seems to be a run up, after a few days the RSI and MFI or most other indicators are in nose-bleed territory, over the 90's and hitting up against 100, etc, so all the technicians grow concerned that it is going to tank thereafter but they fail to realize that in such stocks, because the volume is so sporatic, the action is choppy and so many weeks can go by with hardly anything happening and then boom some amount of money floods into the stock and we see a huge temporary move. This dynamic means that it is not advisable to be looking at a near term (recent) big move's stochastics on a long term chart; for instance, looking at a RSI(14) when it had been at the midline for weeks and after two days of heavy volume buying it goes to 95+ and thinking it is "overbought". The key is keeping track of the volume and the nature of the price action in high volume versus low volume. I think what is clear is that whenever we see high volume the stock sky rockets and for most of the time there is low volume and the market playas continue to walk it down tick by tick in hopes of instigating more volume/action at lower prices. All the questionable iScam artists seem to rant about is daily "sells" versus "buys" which is absolutely meaningless; there only exists what we call TRADES. Sure one can look at if the trade was made at the bid or the ask but that in and of itself is rather meaningless, especially in low volume, and for high volume those figures typically converge (become equal).
GLTY
$RFMK
