That is what some traders take home two days ago when the share price jumped more than 700% profits.
Again, look at the pattern, it is a descending wedge pattern which is a bullish sign. What I learnt is the price starts to stabilise in mid March as you can see it found a strong support at 1.58 for over 3 months.
The yellow line shows you a bullish candle break out of this trend line and it shoots out explosively of the wedge pattern and rocket up to nearly 30 dollars before it tumbles down to current price of 5.80.
Going to the smaller time frame of 1H, you would see that one can take profits on 11 Jun 0130 hours when there is a bearish engulfing candle. Failure to do that, it would evaporates the paper profits you have initially.
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I hope by now you have seen how this pump and dump game have a similar pattern. You gotta be really skilful or lucky to win the triple digit gains. I won't bet on it as there are abundant opportunities out there.
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compare this with Next Digital and you will see the same pattern.......
What is also interesting is that their reported earnings was unaudited. =D
oilyprata
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Wow, reminds me, not to chase an upsurge. Imagine buying at between 5.80-30. But more importantly being patient in a descending wedge and with holding power. Thanks for sharing another great lesson.