New patent for Mass Graphene Production announced in February.
Set a new higher high.
Flipped local resistance into a local support and is showing signs of respecting it.
Currently has low sell volume on pull back.
Previous break up was $0.40 cent run up from $0.80 to $1.20
If mana repeats itself the same as last time it will go from $0.92 to $1.32 as a $0.40 run up however past result arent reliable for predicting future results.
what we want to see is a close above the red line and then on the second candle, we want to see it also close above the red line. what would be even better is if the second candle tests the red line and uses it as support, closing above or on it. A close below the red line on this 6h candle or the next 6h candle would cancel this trade idea (until it closes back...
Float = 7.53M
Short Stocks = 3.26M
past 7 day trade volume average = 667k
Short Interest = 43.29%
Days to Cover = 4.88
Things to consider:
1. majority of shorts may have covered.
2. price was shoved up to $40 and still didn't trigger a squeeze.
3. price climbed 80% from the bottom before dropping off again.
1. most recent action is showing higher highs with higher lows
2. stimulus checks should be arriving soon and the people that aren't in deep financial trouble could use the money to invest
3. supply has drastically diminished (physical)
4. mass amounts of USD being printed, people will want to get out of cash