HPNN: Interesting Chart/Play
Microsoft Patent makes this thing go BOOM! 4b traded, now the Bullish Pennant forming.
Conference call increased volume, which had breakout momentum cut short, then sent flying back to close at .0011... Interesting thing is there has been loading every level everyday. The MM's have purposely marked the price specifically at the lows you see on the chart. When it started getting close to EOD... HUGE bid support showed up, at least 2/3 larger than any of the previous days of bid support which had been between 20-30mil at the .001 and .0011 the previous 3 days. Bid support became 50mil @.0011 during power hour, Stopping any sells from hitting .001 and decreasing investor "confidence" of bullish consolidation/retracement.
The pennant forms a "squeeze" @ .0011/.0012. Not even looking at level 2 action or other technical indicators, the Volume alone (Volume precedes price whether going up or down) Something sporadic will occur tomorrow, which is normally profit taking/close-out position day for most traders who like Gold rather than paper money so to speak. Sometimes stocks fly on Friday going into the next week looking for a good forecast, others peak out and falter to keep the weekly price increase in a not-so-crazy configuration.
Unfortunately there is alot of missing data having been a triple 0 stock for quite some time. The confirmation of the fundamentals for the company is the driving factor in my opinion. Of bigger interest is the backer-Microsoft. A nice big tree-trunk of a company to have on your side when it comes down to credentials. The company may not have done a heck of a whole lot to put it rawly over these past few years, but companies like Microsoft or Apple, Energy companies and the like don't put their name next to yours unless you have something to offer.
We're definitely hitting that .0028 again, that's what I see. I don't believe this will make a move as big on the "next" leg of the chart as it's first. I would expect this realistically though to make a move into the 4's and 5's which is not the 700% gain this saw right off the bat but in a day 250-300 percent followed by smaller increments before top-off and retracement is not far-fetched by any sretch of the imagination.