Extreme upper and lower bounds are $3.85 & $3.35, respectively. Daily HILOs plot a trend line for price consolidation at $3.70 testing $3.75 resistance every now and then. $3.75 target is essentially the multi top resistance.
Since there is a significant price consolidation after the news catalysts of the partnership in China, we can expect profit from dip-buying the lower bounds of $3.50 & higher lower bounds of $3.60. By following the Bollinger Volatility Bands a rough 0.10 - 0.20 cent profit can be made per share, as long as the daily volume maintains.
Personally I already made 2 day trades on this for an average of 0.17c/s profit. Waiting out for the $3.50 or lower dip-buy before re-entry. I would recommend viewing the 1 minute and 5 minute charts for full effectiveness of this strategy.
Since there is a significant price consolidation after the news catalysts of the partnership in China, we can expect profit from dip-buying the lower bounds of $3.50 & higher lower bounds of $3.60. By following the Bollinger Volatility Bands a rough 0.10 - 0.20 cent profit can be made per share, as long as the daily volume maintains.
Personally I already made 2 day trades on this for an average of 0.17c/s profit. Waiting out for the $3.50 or lower dip-buy before re-entry. I would recommend viewing the 1 minute and 5 minute charts for full effectiveness of this strategy.
