Top Shelf Brands Holdings Corp. (DKTS)

[livinginstyle]

The decline on such light volume indicates a normal but painful decent. The chart is still bullish even though the stock seems not so much. To me, using Fibs also, we could and should see a green day today. Today I will talk about some Fib. numbers on this stock.

Doing some Fibs., when this ran from about .0018 to about .0038 (around mid march) it did a Fib. .382 retracement back to .003. From there, next day it ran to about .0092 which was a huge move on over 500 million shares. This up day with that volume was what confirmed the new uptrend in this stock. The stock then pulled back to about .0053. A .382 Fib retracement of that move would have brought the stock to .0066. A 50% retracement would have been .0061. As it is, the stock did a .628 retracement back to .0053. The actual Fib. number was .0053684. So, it was pretty close to an exact .618 retracement. of the previous day's high volume run. I think that high volume run day is where the M&M's had to naked short to supply the huge demand due to lack of sellers that day. That deal (naked short covering by the M&M's) could be close to being done.

Now, lets look at the entire run starting where higher volume first started coming into play. I am using a starting point of .0017 and an ending point of .0099. That is a total run of .0082. Using that number times a .618 Fib retracement lands it at .0051. So, which is often the case, it over-shot (yesterday) but closed above the .618 which is what I look for. In other words, the Fib. .618 number has confirmed a bottom on each pullback so far in this stock. No one can predict for sure where this is going, but let me assure you guys I have seen the Fibs. be so accurate it scary some times. Hopefully we turn up from here. I'm looking for green today.