Solar Integrated Roofing Corp (SIRC)

[TripTrap]

Daily Chart Observations. Where will support come in??

SIRC rocketed up this past week and we all would love to see it happen again this week. But no stock goes straight up forever. Eventually SIRC will take a breather. WHEN is anyone's guess and I want to be prepared mentally when it does.

A very good place to look is at the 50% retracement as I point out on the chart below. The 50% retracement is a remarkable place to find support on any chart time frame and on any freely traded market.

An easy way to calculate them on low priced microcap stocks (without using a fib indicator) is take the recent high, SIRC $3.00, divide by 2, for 50% = $1.50. If SIRC were not to make a new high on Monday I would expect price to find support in the neighborhood of $1.50 if we get a retracement. If however we do go into new highs on Monday or beyond then you would need to make a new 50% calculation at a higher level.

A nice example of this on a similar stock is ALPP: The high on 12/28/20 was $4.79. So divide that by 2 = $2.395 equals the 50% point. Well on 1/5/21 ALPP retraced down to $2.04...only a .35 cents difference before ripping back up again! That is just one example...examples are all over the place!!!

If the 50% retracement is near the same values of either of the 10-20-50 EMAs, then you have found great confluence where you can expect price support. Again, this is what happened on ALPP when it hit that 50% retracement....the 20 day EMA was also sitting right there!! It does not always work out that way but it often does.

The intra-day chart for Monday (not posted below) looks bullish and I predict higher prices for Monday...but who knows!

One idea you can do is throw out all the charts, analysis and opinions etc.. Turn off your computer and head for a lonely cabin in the mountains with no electricity and practice yoga and eat tree bark for a couple months. Then come back and see where SIRC is priced at. My guess is you will be much better off then most who follow price tic by tic, day in and day out, because most won't have the nads to sit through a 50% retracement.

Hope this helps...if not head for the mountains!!!

THESE ARE MY OPINIONS...I am often wrong...just ask my wife lol! Seriously...please do your own research as ANYTHING could happen.

Go SIRC!!!