I can see $BLFS opening lower and fading down for most of the day. It had a parabolic spike 2 days ago to 3.58 from 1.54 and had massive volume. The volume has been fading a lot since its spike and looks to do the same today.
I am looking to short at the opening of the market and maybe cover at the 100% fibonacci level if it has not crossed it by the eod or if the level holds strong support which will give around a 20c profit but hopefully this will crash through and I will hold to near the closing and cover close to the bell.
Also the MACD is showing slightly bearish, the stoch RSI is showing as just coming out of the over brought 80 range plus the ADX and DI is the DI- to be going higher which is a small aid. But I'm not really going off the indicators on this they are just showing me that the idea has a small advantage of happening.
I am looking to short at the opening of the market and maybe cover at the 100% fibonacci level if it has not crossed it by the eod or if the level holds strong support which will give around a 20c profit but hopefully this will crash through and I will hold to near the closing and cover close to the bell.
Also the MACD is showing slightly bearish, the stoch RSI is showing as just coming out of the over brought 80 range plus the ADX and DI is the DI- to be going higher which is a small aid. But I'm not really going off the indicators on this they are just showing me that the idea has a small advantage of happening.
