Steer Technologies Inc (STEEF)

[foxi]

I still think it's the dead cat bounce, just because it was so far oversold in the last breakdown.

The company already said it has no news. This DD (old but still relevant) suggests company insiders have a zillion shares and want to dilute. So imo they maybe let up the selling pressure so price will go back up so they can run it into the ground some more. :P

https://www.reddit.com/r/CanadianInvestor/comments/l5mr8z/the_definitive_rebuttal_to_every_facedrive/

It's a risky buy at the moment having already had a good run. Often you'll see a structure like Head & Shoulders appear signaling reversal. That's where it's teetering at the moment. IF it can get out from under resistance it could keep running. Daily chart suggests it could totally keep running.

https://www.investopedia.com/terms/h/head-shoulders.asp

[madras50]

wth is driving this for the last 4 sessions?

[foxi]

This is looking like it might continue today. Maybe to $5?
(it's gotta get above 3.25 to escape resistance)

[foxi]

I highly doubt it, Amazon already has access to many of those markets and could develop an efficient presence without accounting for facedrive.

Found this older but still interesting DD: https://www.reddit.com/r/CanadianInvestor/comments/l5mr8z/the_definitive_rebuttal_to_every_facedrive/
(Read the comments too!)

I've personally never liked Facedrive because I get the vibe that if the company isn't an outright scam, it's more or less still throwing stuff at a wall to see what sticks. Specialize in ONE of food delivery, rideshare, EV rental, wearable health tech, social media apps -- don't try to do them ALL. Otherwise management and resources are spread thin trying to chase the established leaders (Doordash, Uber, Amazon, etc) who already specialized. Just my 2c. I'm fine trading it but I personally wouldn't keep any.

[eddyimano]

I don’t see the timer nowhere, but it will be awesome.

[Upgrader]

I read on reddit that Favedrive will be taken over by Amazon. Is this rumor true

[gail]

well, I call you Z as you know.

[foxi]

This is the first time I've seen a rising wedge break to the upside. Looks like it'll keep running a bit. Where does it stop? :)

[makinezmoney]

$FDVRF: HHHHHHhhhhaaaaaaaa ha ha haaaaaaaaaaaaaa



Now $3.20


https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165947943



What can I say ??




WHAT'S MY NAMMMMMMMMMMEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE ???



GO $FDVRF

[foxi]

I got in briefly and lost $150! It's a tricky one with some good head fakes. ;)

[gail]

im not getting back in, just watching is all

[foxi]

Careful! The impulse is to buy back in from fear of missing out.
But you already left for a reason!


Look what it's doing now. It's forming a rising wedge, a very bearish pattern. In most cases it'll fall out the bottom as low as that first low point in the wedge. (About $1.80 here)

https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns:rising_wedge_reversal

[gail]

and now it runs, lol

[foxi]

Good call!

I don't know why this would keep moving up on today's run if there's no pending news. My software says price already hit the profit targets at $1.96 and $2.38 so it's probably short sellers' turn to play.

Realistically I could totally see it hitting $3-$5 in the short term after some consolidation. It spent a long time in breakdown so it's probably still oversold.

[janitor_unbound]

I've sold most but def holding a clutch for possible $3-$5 move

[gail]

thx, it was on the move but they ruined it sooooo….

[foxi]

Congrats! :)

[foxi]

Trading resumed and here's the pullback. Hopefully a short one with more green after.

Fair warning, while this could still see more green from here, all the lowest-risk trading already happened!

[gail]

yup, but too risky, im out with a nice profit at least. good luck guys.

[janitor_unbound]

Trading again no major change in pps

[foxi]

Maybe, but if so they'd better tread carefully. They told the IIROC:

TORONTO, Sept. 17, 2021 /CNW/ - Facedrive Inc. ("Facedrive" or the "Company") (TSXV: FD) (OTCQX: FDVRF), a Canadian "people-and-planet-first" tech ecosystem, would like to confirm, at the request of IIROC, that its management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.

Which reads to me that there's no imminent news.

[janitor_unbound]

could be BK announcement? They've been discussing it

[foxi]

Okay, so the trading halt was for "pending news"

Sep 17, 2021

VANCOUVER, BC, Sept. 17, 2021 /CNW/ - The following issues have been halted by IIROC:

Company: Facedrive Inc.

TSX-Venture Symbol: FD

All Issues: Yes

Reason: Pending News

Halt Time (ET): 9:37 AM

https://iiroc.mediaroom.com/2021-09-17-IIROC-Trading-Halt-FD,1

And the "news" was the IIROC assuming there might be pending news and calling up FDVRF to make an official statement.

TORONTO, Sept. 17, 2021 /CNW/ - Facedrive Inc. ("Facedrive" or the "Company") (TSXV: FD) (OTCQX: FDVRF), a Canadian "people-and-planet-first" tech ecosystem, would like to confirm, at the request of IIROC, that its management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.

https://finance.yahoo.com/news/facedrive-confirms-no-material-undisclosed-152600845.html

I assume this is the government attempting to 'protect' investors by assuming they would be buying into FDVRF anticipating news or buying with the idea that company insiders 'know something' secret that's about to drop.

The long delay was probably FDVRF management asleep at the wheel when IIROC regulators called. ;)

When surveillance staff believes that the information is material enough to significantly impact the price of the security they might issue a “trading halt.”

A trading halt is a temporary pause in trading to allow the market to properly absorb the information. It is based on the principle that all investors should have the same timely access to important company information.

The reactivation of trading after a halt is called a “trade resumption.”

https://www.iiroc.ca/markets/trade-surveillance/trading-halts-timely-disclosure

[gail]

well, we know its …..

…


going to blast off. is there a law on how long/max they can do this?

[ShaneO19]

Especially with the way they do it. I have seen so many times when a stock crashes huge there are no halts. Then when it starts to rebound just a tiny fraction of what it was down they start halting it. I try not to get into the stock market conspiracies out there but it seems more then shady.

[gail]

i really think halting should be illegal.

[ShaneO19]

Stock goes from $47.50 to $.69 and we have to halt and give an explanation as to why the stock is back above $2. What a complete fing joke.

[gail]

thx. what i normally do, and it seems to work pretty well, is see when a stock (per past chart and up to the moment) is turning up, and the volume. then i see where it ran in the past, and some other factors, kind of gives me a good idea on a target or targets.

this one could run to or over 10 bucks but thats why they halted it. i dont know much about shorting but my guess is, big money groups have some say so as to stopping a run? if its shorted? i dont know, just a guess.

[foxi]

Hehe, no problem! :) Check this out over the weekend:

If you learn the rules for this and follow them very carefully it's very good at helping mitigate risk. It's too aggressive sometimes so sometimes you sell too early and miss potential profits, but it gives good sell signals the rest of the time and helps you not lose money at the end of a run.

RSI is also a good indicator, but it's too laggy to be helpful in real-time. You have to watch it a lot and get a gut feel for how long a breakout might last. (They don't usually last very long.)

Stay away from minute charts until you're more experienced. Use daily or hourly charts! Youtube is your friend for learning about charts and strategies.


I guess facedrive is just stuck for now, lmao. Never seen a trading halt this long.

[gail]

thx, thats a bit over my head but im trying to learn charting. kind of, lol

[gail]

ok, thx.

[foxi]

On the minute chart it looks like this:

And below that is an hourly chart that shows why there's a possible dead cat bounce.

I use three MACDs to measure different periods, to help visualize the momentum shifts. The one most people use is the 24/52/18 MACD (in the middle)

After the cooldown, it could totally keep running. Minute chart is very short term!

[foxi]

I grabbed it off of yahoo's aggregator but a better place to look is the IIROC website itself.

https://finance.yahoo.com/quote/fdvrf/
https://www.iiroc.ca/news-and-publications/halts-and-resumptions

Looks like it's still halted. No idea when it'll resume.

[gail]

and it was not pulling back, it was blasting off.

[gail]

also, its currently 10:43 e/t for me here in Va

[gail]

where do you see the…


…..

time for an expiration of a halt? this is kind of new to me, as i dont usually trade big boy stocks and halting is not something i ever see in my usual pink stocks.

is there a place that you see the time frame for a halt?

[foxi]

No idea! It looks like it could be about ready for a pullback so maybe they want people to have a chance to check their charts and stuff. It just moved in a vertical line and pumpers can use the frenzy to push it higher than it should go, unload shares, and leave everyone else holding the bag.

I guess we'll see what happens in about a minute. :)
(I thought the halt expires at 9:37 eastern?)

[gail]

i wonder why they…

…

halted it, it wasnt even up all that much, no like it was 1000%. odd.

[foxi]

I used to own it when it was back around $45 a few short months ago! :)

Watching it now to see what happens, imo this is the dead cat bounce. https://www.investopedia.com/terms/d/deadcatbounce.asp
(Not to say money can't be made during the frenzy!)

[gail]

i see it on many of the…

..

big boy stocks and it really should be illegal to stop a run.

[janitor_unbound]

they don't do that in the OTC but I guess since it trades on TSX they have to

[gail]

looks like they halted it temp as they do anytime a stock runs, lol

[janitor_unbound]

FDVRF halted?

[gail]

wowza!!!!

[gail]

blasting off out of the gate here!

[ShaneO19]

It went up 123% today and the daily RSI is still only at 27. This has the potential to go much higher. RSI started today at 11. So an increase of 123% caused a 16 increase in RSI. Another 123% tomorrow would only bring the RSI up to around 43. Stock was over $47 early this year. Not saying its could go back near that level but it can go many multiples higher then $1.60.

[gail]

it been brought down on……

..

manipulation imo. she appears ready for blast off.

[ShaneO19]

Bought and have been averaging down on this for a couple weeks now. Need $2.22 to get back to even. What was one of my worst trades ever could turn out quite well here.

[gail]

quiet board for 123% run so far, lol

[gail]

and another new high for the day, weeee!