Friday, April 25, 2014 12:55:33 PM
On April 2 I began sending the first chart to friends warning that if shareholder confidence wanes due to continued absence pertinent information such as revenues, we could see the following price support zones challenged.
.004 - .005 blue
.001 - .0028 green
.0002 - .00057 red
The second chart shows that, subsequently, those levels were met.
The chart kept myself and friends from buying in the .008 consolidation area as it bumped against a forming declining tops line (magenta) which is presently experiencing a breakout. We did get some .005's and .004's. The decline seems to not be due to waning shareholder confidence as evidenced by low volume. Curiously but not surprising, the sharp intra day spikes downward were on vaporous volume from 10 to 100 thousand shares. Who would sell at 50% below the last price repeatedly for such a little amount of money, and for what reason? Certainly not profit taking.
Nonetheless, the action made a low volume spike on a weekly basis which nearly always indicates an impending trend reversal or a nearing of the ultimate bottom. Undoubtedly, there are those who are hoping for a high volume panic sell off. We shall see if they are accommodated, now that the company is releasing incremental information to shareholders. Should substantial information such as revenues be released, there would likely be a mass pick up in volume and upside direction.
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM