AI
Wednesday, April 23, 2014 9:19:42 AM
PeacefulWendy,
I sent this to you yesterday on the other stock board. It got whacked for being off-topic. Oops. lol
The first BMSN chart I posted was for three months back. To help you understand my reasoning with the .003 price you will need to view a chart that goes back at least to December of last year.
In the middle of Dec notice how the price kept bouncing off of .003. This is resistance as the price resists going any higher. Once BMSN broke resistance (.003) it began and still does almost always trade above it. So .003 is now support as the price is either at or above .003.
Going back to the end of Feb, look at the chart at the .003 price. You will see the stock keeps bouncing off this price. It dipped below and quickly returned. This is what is called, "testing support" and it held as the price came back to and stayed at and above the support of .003.
Also notice on April 21 and April 24 while the stock was trading under .003 it tried both days to break thru.
The above is where I get the .003 price from that I have mentioned. Today BMSN opened at .0029 and has bounced off of .0029 4 times. This could be a short-term support which could mean the price is dropping on low volume or .0029 is building a base to consolidate. This is why I wait before buying. I want to see the base etched in stone (well, in a chart lol) before tossing my cold, green cash at.
As for the blue line (50 day moving average) it is currently at .0039 and the red line (200 day moving average) is currently at .0028. Take a few minutes and really look at how the price and these lines are connected. So often the price with either go up or down depending on which way it passed thru the line. This is not a guarantee. However, it is a pretty good tool to help watch the price movement of a stock.
One thing worth mentioning is charts are more reliable with the big board stocks. Penny stocks have sometimes crazy movements and therefore charts are not as reliable which why those of us who are thrill seekers like these pennies so much :0)
If you PM me your email we can discuss charting different stocks easier than you PM me and I reply openly, also more privately.
I sent this to you yesterday on the other stock board. It got whacked for being off-topic. Oops. lol
The first BMSN chart I posted was for three months back. To help you understand my reasoning with the .003 price you will need to view a chart that goes back at least to December of last year.
In the middle of Dec notice how the price kept bouncing off of .003. This is resistance as the price resists going any higher. Once BMSN broke resistance (.003) it began and still does almost always trade above it. So .003 is now support as the price is either at or above .003.
Going back to the end of Feb, look at the chart at the .003 price. You will see the stock keeps bouncing off this price. It dipped below and quickly returned. This is what is called, "testing support" and it held as the price came back to and stayed at and above the support of .003.
Also notice on April 21 and April 24 while the stock was trading under .003 it tried both days to break thru.
The above is where I get the .003 price from that I have mentioned. Today BMSN opened at .0029 and has bounced off of .0029 4 times. This could be a short-term support which could mean the price is dropping on low volume or .0029 is building a base to consolidate. This is why I wait before buying. I want to see the base etched in stone (well, in a chart lol) before tossing my cold, green cash at.
As for the blue line (50 day moving average) it is currently at .0039 and the red line (200 day moving average) is currently at .0028. Take a few minutes and really look at how the price and these lines are connected. So often the price with either go up or down depending on which way it passed thru the line. This is not a guarantee. However, it is a pretty good tool to help watch the price movement of a stock.
One thing worth mentioning is charts are more reliable with the big board stocks. Penny stocks have sometimes crazy movements and therefore charts are not as reliable which why those of us who are thrill seekers like these pennies so much :0)
If you PM me your email we can discuss charting different stocks easier than you PM me and I reply openly, also more privately.
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