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It has been LESS than 4 weeks since the news was expected, as indicated by the initial rise in the PPS.
A typical handle in a cup and handle formation takes 4 weeks.
A handle is identified by low volume.
If you were so bright as to point out the cup and handle 3 weeks ago, when the handle had first formed, then why are you flipping out and using the handles perfect formation as an excuse for bearish behavior.
You sir, are not pragmatic, you are waffling.
I am calling the move, and have been since this company was at .0003.
This is the bottom. The PPS goes up from here, period. No amount of complaining changes that reality.
In regards to the Authorized Shares - Correct me if I'm wrong - but I think everyone is looking at the situation completely backwards.
The primary purpose of increasing Authorized shares, is to increase the number of unissued shares and prevent a hostile takeover.
The secondary purpose of an A/S increase is to provide for financial security for the company by allowing for dilution.
The increase in the shares took place after the stock had already hit the cellar. Shareholders got a dividend around the same time as the A/S increase.
Why would a company that wanted to dilute its shares wait until the stock was close to the bottom before increasing the A/S significantly. Wouldn't they rather dilute slowly at higher prices if they were looking for cash?
I think it makes more sense to see the increase of Authorized shares a necessary first step before the company begins a process of pursuing an aggressive business plan that will drive the PPS up.
Would it not make more sense to assume that they are preparing ahead for an increase in order to facilitate their control of the company and their chance to make money off dilution into a bullish trend?
If they're not diluting now, and the stock is sitting firmly in the cellar, doesn't that simply mean that this is the bottom of the run, and shares purchased and held now could be sold later at a profit?
Are they diluting now? I've only primarily seen buys and 2 and 3 and sells at 2.
Yes there is volume at .0001 - is that the dilution? Is it a death of a thousand cuts by slowly diluting shares at the lowest possible level? If so why dilute the shares in the first place?
Can anyone seriously address these issues?
Do you have any concept as to WHY the volume is low?
Do you understand what a cup and handle pattern is in the first place?
The handle is identified by significantly lower volume in the handle than during the breakout. The handle typically lasts for a period of up to 4 weeks.
The reason the volume is low is because people are waiting for the pending news release regarding the flow numbers.
Low volume at this level is what we're looking for. The movement comes after the news. This is a spring coiling up.
If you are calling me a liar / delusional because the volume is low, you are yourself deluded and not aware of the reason / significance of the low volume.
Here's a clue; It's not bearish.
Close to breakout. Institutional buying. Pay close attention.
The naysayers and doomsayers on this board consist completely of people attempting to push the value of the stock down, and those too deluded to recognize what's happening.
The ask is firmly set at 13 and all of these 11s are the loading up before the storm.
The cup and handle formation looks flawless. The numbers are going to be released and the PPS will breakout hard.
Negative sentiment comes solely from those who are impatient with insufficient funds to increase their position size, and those who will do everything in their power to influence others to sell in order to pick up cheaper shares.
At this point the sad fact is these people don't recognize the strength of the support at this level, and are hoping to have a breakdown of that support in order to capitalize on significantly larger gains from buying on the cheap.
The best you can do is pay attention. Every seller has a buyer. Are you selling at 11 and 12 or are you buying? Don't step off when the ride is about to get started.
Here is a chart that shows the dragonfly doji.
http://yfrog.com/e9dflyj
It's because of the low float. By making it more difficult for traders to purchase at the ask and sell at the bid, it allows for the greater volatility in share price. Traders looking to purchase will be forced to buy above the ask to get their trades filled. That's how it got this high in the first place.
Low float = volatility + hard to fill orders
Doji's have merit and a dragonfly doji is fairly reliable bearish indicator after an uptrend. It is only particularly bullish after a downtrend. It can mark a pause and it could close higher today. Today makes the indicator for the call. Close down is a bearish signal. Any investor would hold through today and pay attention to todays action carefully because of the dragonfly doji.
My call for today:
Investors: HOLD and wait for bearish confirmation.
Traders: If you are up, TAKE PROFIT, and keep riding however many shares you feel comfortable with.
Dragonfly Doji trading sideways like a champ
Doubled down. Expecting a nice run today 930 / 1030
is on its way.
Look at the last 10 minutes of the trading day.
The entire hammer came in the last 6 minutes, which was a total of about 350k shares back and forth. The rest of the day was the doji. I'm not saying I'm right, and even the doji requires today as a confirmation, I'm just pointing it out and saying be cautious.
You may be right. There is a fine line between identifying a hammer after an uptrend vs a dragonfly doji. The width of the hammer is a 12% rise from the open.
Also keep in mind that the portion you describe as the 'hammer' is only the last 5-10 minutes of the trading day on thursday.
The entire day traded the dragonfly doji.
Regarding the Dragonfly Doji
http://yfrog.com/28dflyj
Today's session is required for a confirmation of a bearish trend reversal. Prudence dictates investors wait a day before investing, and those who are holding a position should be prepared to sell.
A bullish dragonfly doji is strongest after an established bearish trend, which is not the case for this stock.
Dragonfly Doji. Pause indicator. Time to Stall sideways.
Big day today. Start of the rally.
Get your rally caps on. I'm sure a lot of people have been waiting for EVFL / EBOF to reach the right place to begin a rally of the bulls.
Now is the time.
I've been watching on the sidelines and waiting for EBOF since the beginning of the year. When I saw a dividend was going to be given I knew that for new investors not already holding a position, the best time to wait for would be after the divi, when the company was nearing compliance for the bulletin board.
Well we're reaching that place now. Now is the right time.
Those people on the sidelines should be looking at today as the target entry point.
Enjoy the ride up.
I have 3.8 million at .0002
Chart says it all. Cup and handle breakout.
Blue sky breakout when the flow numbers and revenue potential finally comes through.
Press Release
Source: Evolution Fuels, Inc.
On Tuesday June 23, 2009, 10:10 am EDT
Companies: Evolution fuels, inc.
DALLAS, June 23, 2009 (GLOBE NEWSWIRE) -- Evolution Fuels, Inc. (Pink Sheets:EVFL - News; the "Company") today announced that it expects to complete the accounting activity toward finalizing its financial reports for fiscal year 2008 as well as the first quarter for 2009 over the course of this week.
Accordingly, the Company's management expects to publish its Company Information and Disclosure Statement through the OTC Disclosure and News Service, which will incorporate these financial statements, by June 30, 2009.
Once this disclosure statement is published, the Company expects to achieve full compliance to meet the requirements for the Pink Sheets' highest tier, "Current Information".
The Company anticipates that the financial statements will reflect a net gain of approximately $70 million on its 2008 income statement as a result of an exchange agreement with PNG Ventures previously announced in January of this year.
Yeah. O/S of 7 bil is still .009
What is that? 3000%?
70 mil into the O/S is .091 PerShare
Right?
Huge gap up monday.
Talk about your absolute contrarian indicators.
Their financials will reflect an additional 70 million in revenue.
Last time I checked, 70 million divided by the number of outstanding shares is .091 per share.
Where are we? .0003? We're well under the base value of the assets alone, let alone projected revenue.
Easy 5-10 Bagger at this level.
I've been watching earth biofuels, i mean evolution fuels, for a long time now. This is the payoff run for people who stuck it out past the dividend and to new investors.
The entry price of 2 is gone. Now it's a 3.
Make sure you're in it before the financials come out. If it plays right we'll be looking easily at a few hundred percent within the first days of next week.
You bought 113460 share? Lol. I prefer even numbers. I know this because some of my shares jumped the ask as well and filled at .0174 the 100k block.
I'm in at 17. CUP & HANDLE BULLISH trend
plus expansion news, which alongside past trends pushes the PPS higher.
WNBD should go up steadily all day long.
Perfect Cup and Handle + Revenue Projection
Here's a picture of the cup and handle for MGLG side by side with the textbook definition.
http://yfrog.com/5scuphandlej
The world petroleum industry says that the average amount of natural gas from a well =
10,000 m3 - 50,000 m3 of natural gas per day per well
times price of natural gas / m3 (call it .33)
times the number of wells (24)
= $79.2k - $396k per day production.
= $2.45 million - $12.28 million per month
= $29.4 million - $147 million per year
"The upper paleozoic reserves take up 76.4% of the proven natural gas reserves. The permeability of sandstone gas reservoir is 0.5~2.0 md. Poor in reserves, on average, the gas-bearing area per square kilometer only deposits 1.3 billion m3 of natural gas reserves. The average daily output of a natural gas well is only about 10,000 m3. The lower Paleozoic reserves take up 23.6%. With higher permeability in carbonate gas reservoirs, the average daily output of a well reaches about 50,000 m3. "