Oryon Technologies Inc. (fka ORYN)

[ospreyeye]

ORYN Chart: The Mother of All Bearish Set Ups!.......BEARISH THREE GAP UPS........if you're a Bear & have penny stock shorting capabilities this is the type of set up you dream of...........like Yogi stealing picnic baskets............this is truly one heck of a BEARISH SET UP..........

Where to begin........let's start w/ the obvious: BEARISH THREE GAP UPS

Definition
This is a four day bearish reversal pattern. It consists of three consecutive days each gapping higher on the open. After Three Gap Ups the market becomes extremely overbought and ready for the reversal of the current uptrend.

Recognition Criteria
1. The first day can be of any color.
2. The second day also can be of any color, so long as its body gaps up away from the first day’s body.
3. The last two days are white and their bodies must gap up from the bodies of the prior days.

Pattern Requirements and Flexibility
The first two days of the Bearish Three Gap Ups can be of any color but the last two days should be white. There must be upside body gaps between the candlesticks.

Trader’s Behavior
The market is overbought with three gaps up in a row and it is time for profit taking.

Sell/Stop Loss Levels
The confirmation level is defined as the midpoint of the last white body. Prices should cross below this level for confirmation.

The stop loss level is defined as the higher of the last two highs. Following the bearish signal, if prices go up instead of going down, and close or make two consecutive daily highs above the stop loss level, while no bullish pattern is detected, then the stop loss is triggered.

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=4201

The candlestick pattern is screaming: take profits......bear season is open.......if you look at Fri.'s candle you'll notice the upper wick..........that was profit taking off HOD(high of day) levels........smart money has already begun taking or already has taken profits.........this is clearly reflected on Accum/Dist and CMF.........notice how the share price closed higher, but Accum/Dist & CMF were down on Friday?...........this is called Bearish Divergence........this is another Red Flag.........

Haha, you have to laugh at that Gap........just look at it.......are the Market Makers serious?.........this was the last pr, notice the date:

Oryon Technologies Announces Strategic Investment By EFL Tech For Global EL Business Expansion 1/24/14

1/24/14...........that was the last pr, but for some reason the MM's felt the need to Gap ORYN higher at the open on Fri.........remember, this is an OTC stock......there is no premarket trading, so the gap was created by the Market Makers and not the "market"........the street, retail, traders, investors didn't create a single gap on this chart.......all three of the current gaps were created and every other gap on the OTC & Pinks were created by the Market Makers........the MM's create gaps in Penny Land.........

Think about this statement: the Market Makers create gaps in Penny Land..........

Why?.......why would the MM's create gaps?.........because the MM's use the Candlestick patterns as well..........the Market Makers use charts and technical analysis just like we do.......they are using the same data........they create the patterns..........some people say charts and technical analysis don't work in penny land, but I have to disagree..........we'll see Mon., but after forming/creating this pattern I think the writing is on the wall & a big drop is coming.........

Take a look at the green Volume Bars........ORYN has formed 7 Green Vol. bars in a row.........what?.......greedy pigs looking for 8?.........seriously, this is where greed comes into play.........I like to use the saying,

When there's blood in the streets you buy and when they're drunk w/ greed you sell.............anyone looking for another green volume bar is being greedy.............

Checkout Fast Sto, Full Sto, RSI & Wm%R...........all 4 are in the Power Zone........is this sustainable?.........look at Fast Sto.......bearish crossover on Fri........& look @ Wm%R.........starting to head down.......I think the answer is obviously no........the bullish momentum is unsustainable and the Upper wick and HOD sell off is signaling downside risk............$$$

ORYN on Sell Signal Confirmation radar..........$$$