Alot of talk on twitter now about this stock. (Usually a warning sign for me) but theres nothing else technically alarming me so ill stick with it. Highest close on daily since august 2018.. so thats a strong sign. Looking for a follow through tomorrow, but resistance at the 38c -40c range is just as large as the 35c mark. Big buying will need to come in and make that happen. Any close above 42c and will quickly move to 50c and upwards from there. Entry here with a stop at 34c if you arent in it. Might be a pull back tomorrow to 36c again based off price action today. (Not as much volume as yesterday)
What do you think about their latest announcement regarding a 'funding arrangement'... I haven't seen this before - is it similar to a capital raise?
TAjames
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@henrymorris1999, fancy name for it, but pretty much. Usually how moves like this end. Hopefully the funds are secured in the range of 35-36c
henrymorris1999
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Do you think its a good buying opportunity at its current price? Or wait to see if it breaks resistance at 38-40?
TAjames
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@henrymorris1999, up to youre investing strategy. If you like the stock and are happy to wait for it to break resistance.. this is more of a when, not if, situation, then by all means wait until the 41c mark to start buying.. but ive been telling my long term holder friends to buy on pull backs, i dont see it going below 36c again so any price in this range is good buying. if youre looking to buy and increase your holding overtime for the long term gains, best strategy is to buy on low volume pull backs..
henrymorris1999
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@TAjames, Thanks i really appriciate your feedback.
TAjames
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If anyone knows how to delete a chart so that i can repost this. **for obvious reasons :( ** please share.