I believe this stock has a lot more upside then downside when factoring risk and reward. Contraction leads to expansion, look at the last 4 days, this looks primed and ready.
Volume precedes price!!!
I have been following this stock for quite some time, every time we saw a volume Increase it was always selling pressure to the downside, price would level out under low buying volume and the next round of selling starts again. This is a downtrend.
My bullish analysis started when I started to see volume spikes on buying volume and the price acted in a positive way:
Volume increased as price increased= bullish buyers are out there at this market price.
Volume decreased as price decreased= sellers are getting tired at this price.
both of these items just started occurring in the last month or so which is why I am long since 0.81 also I just added more today at 0.94
Time Will Tell but I believe the bottom was made.
Volume precedes price!!!
I have been following this stock for quite some time, every time we saw a volume Increase it was always selling pressure to the downside, price would level out under low buying volume and the next round of selling starts again. This is a downtrend.
My bullish analysis started when I started to see volume spikes on buying volume and the price acted in a positive way:
Volume increased as price increased= bullish buyers are out there at this market price.
Volume decreased as price decreased= sellers are getting tired at this price.
both of these items just started occurring in the last month or so which is why I am long since 0.81 also I just added more today at 0.94
Time Will Tell but I believe the bottom was made.
Comment:
Forgot to mention the TK cross along with the price being above the 21 day EMA which I use on the day and hourly chart when entering positions.
Comment:
got stopped out for a 7.25% loss