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I trade the charts more than the fundamentals. Any good news from the company, assuming all of their ducks are in a row, will likely be reflected in positive price action on the chart. Today's action was weaker than I would have liked to see, considering I'm looking for short term gains (gimme gimme gimme), but it's not a nail in the coffin by any means. It still held enough of it's gains to make it to the next trading level, so I'm willing to give it time. The action is bullish enough for me to believe that there is something positive going on with the company, or at least there is enough speculation as to the company having positive things going on in the pipeline, that the market is getting ready to price this higher. However the fact that the price couldn't hold anything close to it's highs today is very likely an indication that it's going to be a battle, so I'll be happy just to see further consolidation above a penny.
I'm playing this one for another run after the stock can consolidate, but maybe this is all it had in the tank. We'll see soon enough.
Good to ya. I've been making a living off of trading setups like this for 6 years now. I got in yesterday on GOSY, sold some into the pop, now riding this attempt with virtually no risk and lots of potential upside. I'm glad you've been following this for years, I've been trading momentum for years.. you know, kind of like the momentum that just popped up on GOSY today. Hmm, strange how that works, ay?
Vol by price completely disagrees with your assertion. Clearly someone bought up there, but not much vol, check your charts (or eyes). In the big picture it won't matter what they do though, their volume will get soaked up like nothing. Watch and learn, sir.
Today's action is healthy and bullish imo, I'm expecting more upside once all the churning back commences. The am pop was the candle with the highest volume as you can see, and all the consolidation and pulling back has been on tapering volume. That's what you want to see and why I believe this dip is a buying opportunity. I marked the top of the rally at .017. It did go higher than that, but those prices were quickly rejected and most of the volume was down in the teens. With that being said, the price is now pulling back to the 50% retracement level and I can see it dipping a little lower than that, back to the 38% range (though ideally on very low volume). Any type of strong finish to the day would look very nice on the chart.
Actually the ask is moving fairly easily, I've been watching it like a hawk. There is some selling at the bid that's been keeping it from getting too crazy, but this is the first move up from a breakout of a large base. There are going to be profit takers from the last level. It's holding it's ground at this level and we'll see where it closes at. It may take some churning to let out the sellers from the last range and work it's way on up, but that is to be expected. A things considered I think the path of least resistance at this point is clearing pointing up, definitely a good one to keep an eye on in the coming days/ weeks.
Shares in the .003s are getting scooped up and the consolidation range continues to tighten + push up. Should get cooking when it starts to climb through .005.
Agreed, this could finish the day with a bang and really get nuts. I wouldn't mind that at all!
Agreed. .01 was a major break, now it's likely to build another base somewhere here in the teens, albeit a much shorter base, then breakout to new highs. Imo.
Nice. It's always interesting to see subtle but clear strength in the price action when there's little to no chatter on the message boards. I'm very interested to see if this can clear the .01 ceiling and what will transpire when and if that does happen.
I don't know a thing about this company, but I know a breakout setup when I see one. Something is causing some bullish price action, and based on the sentiment around here, I think a breakout would catch most people off guard. Those tend to be the nicest runners.
And it looks like there are some people who are interested enough in this to make sure it stays below a penny. Can you say short squeeze? Hehe, I'll be watching this one closely, could get very interesting in a hurry. Mark my words, this WILL get momentum on a break of .01.
Maybe it won't crack through today, but it took out most of it. This action should start to get the attention of technical traders, especially as it hits new 52 week highs.
Yeah, it's getting nice and coiled up, that wall at .01 is down to 400k. Was over 1.5 mil this morning.
When if this breaks .01, this will run, imo. It's been testing .01 resistance for a while, I've been waiting for that wall to start crumbling.
Very well may run a bit in anticipation. We'll see as it gets nearer.
Majic Wheels Acquires New Leasehold for Headquarters Marketwire "Press Releases"
FORT MYERS, FL -- (Marketwire) -- 03/27/12 -- Majic Wheels Inc. (PINKSHEETS: MJWL) (http://www.MJWL.info), a Delaware corporation which operates a business line of roll off dumpster rentals, site work services, construction and foreclosure cleanup and junk removal services, announced today its acquisition of a leasehold facility for a 10 year period. The new location has over 12,000 square feet of office and warehouse space and a half acre of land for storage of its dumpsters and equipment. "This large facility allows our staff to be under one roof. This new location allows staff to facilitate the operations in a organized and controlled environment in order to generate an expedient billing process, dispatch and scheduling. The warehouse is used to repair and maintain dumpsters, equipment and trucks on a daily basis and under our direct supervision. This allows for control of costs and time saving," stated Denise Houghtaling , CEO of Majic Wheels Inc.
Right on. Personally I'm ready for some action, so I'm hoping my gut feeling is right and this is the last chance for sub .03 shares.
There have been sellers that have been getting out during this pullback and consolidation. They've done with some bid whacks as well as getting out at the ask. It's your typical low volume consolidation battle, where slowly the impatient trickle out until all of the selling subsides. Once the balance starts to tip back to the buyers, the vol and price will ramp up and the next leg of the breakout should begin. I know it's taken it's sweet time, but imo it's looking like we should see a resolution this week.
Getting very anxious here after Friday's strong close. Everything is setting up nicely here for DDCC. This upcoming range in the low to mid .03s is a key line of resistance, and imo once that starts to get tested, the momentum will snowball and this will breakout big time.
This could easily still need another week (or 3) of consolidation, but it's holding up well and I'm expecting the bid to continue to push up and the spread to tighten. When this starts to crack a couple of million in volume on the day, then I'd start to pay a lot more attention. When this starts to get some momentum, pennyland will be here in a heartbeat.
Could be a mover on a break of .20. Nice volume today.
I've been watching this for a while and I know there are sellers in the .032 - .036 range. It may take a while, but some pressure on that resistance range should come before a nice pop. I believe the previous highs in the .04s will be taken out and the next leg could/should easily make it to .10+. You never know when one of these plays goes parabolic, so that's a conservative estimate, imo.
Time to wake up people, this is starting to show signs of life again. Setting up for the next leg up, imo. Volume is creeping back in today and as soon as the sellers in the low .03s get taken out, this will pop hard (again, imo).
Plays like this are all about extremes. Extremely low volume periods, extreme spikes in price and vol, extremely high risk and reward, etc. This just happens to be an extreme version of low volume consolidation. This is how I see the chart and what I'm looking for in the coming weeks.
The purplish area is the dead period where it just floated around on next to no volume. The light green area is where the stock moved up on a significant spike in vol, and that area marks the extent of the move. More or less a solid move from .001 to .0055 (I don't count wicks since they represent price levels that were initially rejected). The darker area of green/blue is roughly the area where a healthy pullback (ie low volume) should stay in, and in general you want the lower half of that range to not have all to many shares available. Right now the action is clearly thin and all over the place, but the basic outline here is holding true. The 50 MA is the very bottom of the pullback and only a few shares are available anywhere close to that, and the 15 EMA is essentially the bottom mark where you're going to be able to get any decent sized buys. Honestly I think that may even be stretching it, I don't see many shares available at or below .004, maybe $1k at this point.
I'll be looking for the consolidation period to continue, orders to trickle in and hopefully increase steadily, and the price to start to push up closer to the .0055 range. Once things are set up and this is getting ready to bust the last highest close (.0055), this will be set up to run into the pennies fairly easily. Wouldn't be surprised to see the company time out some PRs to coincide with a move. For the time being I'm scooping shares below .004, but trying to be slick about it. ;)
Yeah, the ibox is definitely outdated. This does indeed trade loosely, it could run into penny land with minimal effort.
Agreed, it'll take a while but the spread will tighten and the vol will start to uptick, then this could easily see another big breakout.
It's lunchtime so it's tough to expect too much momo at this point. Simply holding it's ground into the bell would be a VERY bullish sign for the breakout on the daily chart. IMO
Some EOD hits on the ask would be a great way to finish off the candle and would make for a great chart.
Absolutely, that's why I like my chances at holding this one for a while. You're right, you'd be hard pressed to find another triple zero out there that has an A/S at 500 million and no R/S history.
Because I'm not in any rush, and for the record I've slapped the ask with a lot bigger orders than what's being offered at .0005. So if I clear out the 0005s, then what? This will move when it garners some interest, but until then I'll patiently wait and maybe add more if I think the time and price is right.
Lol, no sorry that's not a lot at all. If a stock isn't moving up because of $1k worth of shares, then it's not ready to run.
There are about 2.3 million available at .0005, or slightly more than $1k worth. There's probably about the same amount available at .0006, like I've said it won't take much effort to move this up. Basically the play at this point is betting that this will gather some interest in the future. Maybe 20 to 30 million shares and this would likely be in the .002s, imo.
Strong earnings? This is a just a shell stock and that's why the stock is trading in the triple zeros. A stock with no volume and trading at this price does not equate to strong earnings. Lots of things that could move this stock, but it's not going to be earnings!
I've heard it forces them to cover, though can't confirm that for a fact. I do know most ticker changes I've been through end up positively in the short and mid term. Whether or not any short covering has anything to do with that is up for debate.
Already more vol than yesterday. It's not a ton, but it should be a nice step up and a trend in the right direction. A strong close today would be a strong buy signal on the chart, even just ,041 would look solid. If this can get a little action at the ask before the end of the day, I think this will be primed to run very soon.
Indeed, a little more pressure and this will get explosive, imo.
Cmon bulls, lets close strong! .034 or better close would set the chart up perfectly! Less than a 100k shares should get us through .035.
Indeed, looks pegged to resolve and bust out of this trading range soon. If it takes out .035 now I think it's going to blow, especially considering the volume is going to be one of the higher bars in a while (since the last rally).