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Tuesday, October 01, 2013 12:48:25 PM
Sorry moneybuilder but I disagree, technicals do not work with p&d schemes.
Look at this chart below and tell me that technicals do not work lol. It's pretty clear to me how it follows the MA's. I will agree, however, that you cannot solely trade penny stocks ONLY on technicals. Which is why it's good to know how to read the tape and play momentum.
CBY*, PTA*, and many others first ran from the lows while churning a bunch of shares. As long as we see BFLX consolidate higher than where it did before, we are good for another leg up imo.
This is somewhat technical analysis, but also experience speaking here. IMO we will see a .0008 break soon, and the next resistance will be .0013 at the 50MA.
Disclaimer: All posts on iHub and StocksOnWatch are of my own opinion based on fundamentals and/or technicals on the chart. They should be considered for informational purposes only. You are responsible for your own trades based on your own due diligence.
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