Careful.. I would see that more like this. I would atleast want to see it retest and fill the gap and base out before being bullish. Either that or if you are bullish and do not want to wait... see it break the descending trend and confirm it from the top side.
shkspr
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@CJS04, thanks my friend for the alert, I believe in your technical knowledge more than myself, I have no position in it, and I have no intention to open here, I expect a pull back to Fibo 0.50 and if it holds it, then it could be a buy opportunity, but if you look at volume, it's good,
shkspr
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@CJS04, but let me remind you, this is a MEME stock, whatever you think works normally maybe doesn't work, manipulation is at the highest level right now. if I want to stick to my normal analysis, it should fly to 3$, 100% guaranteed. but lets see, world of meme stocks is different, recently I opened huge position in BBIG and ATER, and I toasted so far, lol. let me see what will happen. let me know your opinion. I'm down 6 figures now, more than 14%,
wanna shoot myself, lol
CJS04
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@shkspr, ouch!! Well that could be true.... it is a cheap stock that can be controlled by a big hedge fund who can toy around all they want. But looking at the chart so far, it has followed a pretty steady pattern. (I wouldnt even mess with it otherwise). A chart you cant make sense of, is one its better off finding something that you can make sense of. Ideally, this yellow line would play out... reject like it should, come down, fill the gap, base out, break the descending trendline, confirm it from the top side and then go. As of right now, it is only making lower highs, lower lows. You are yet to overtake a previous high. This yellow line would be ideal
shkspr
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@CJS04, great, I agree with you for mid-long term price actions, it makes sense and I believe in your analysis, but before it happens I expect 10 to 20% uptrend, it should hit 2$ before any drop.
CJS04
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@shkspr, if that does the trick for you.. I hope this ascending trend takes you up to there then
CJS04
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@shkspr, the middle trendline, the second blue, would be ok... personally, I think its rejecting tomorrow... I would be short or just patient in going long. There is no reason to be long at this point.
shkspr
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@CJS04, I agree, rejection to 1.50$ means over 10% correction and then hit 2$ area.
CJS04
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@shkspr, why are you saying this? nothing needs to stop at ten percent. You are talking yourself into something that has nothing to do with the chart. Sorry, I dont mean to sound like a dick... just that's not the way to think. I really do like the yellow path but the middle one would be ok too... I would be shorting this if I had to pick one. I would not be buying long until I saw one of those two paths. Break and confirm from the top or drop and base out before moving up. Sorry... it may not be what you would like to hear and I hope you do get that pop to 2.00 before a drop.
shkspr
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@CJS04, what you think about BBIG,ATER, I have position. decent position