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This setup looks like a decent cup and handle pattern at the moment. Also, this is a pretty helpful site for learn chart patterns and stuff. http://onlycharts.com/
EMLL
Here's another pretty helpful site I found to learn chart patterns. http://onlycharts.com/
This is trading better than it has in months. The MMs are finally not dumping and are pushing it to the upside. Whoever was selling, looks to be done.... for now at least.
I was in before the last run from .009 to .034, but I was way too slow on taking any profits, then the pullback did much more damage than I figured it would. I finally bailed and just got back in, with this huge volume spike looking like a very possible sign of a bottom being put in.
100% wrong, that's just my opinion. Forget the dojis and other stuff, look at the big picture, price action and volume. The chart shows major accumulation going back almost a year, one little candle doesn't mean jack in the big picture, and if that's how you use them, then of course they aren't relevant for stocks like CPRKQ. However, when you look for things such as massive amounts of accumulation and a price that's trading above key resistance, ie a place where there were once many sellers, then it's pretty darn telling.
Whoever that Alan Wright guy is asked about 14 times about Helix. Hey buddy, why not send them a PM?
Only a penny stock trader........
Either short covering or simply accumulation by some big guy, but either way it's been a positive event for the price action.
Yep, I noticed that 20 mil too. Every other time it's upticked soon after, so we'll see what happens here.
Whatever, I'm sure there were retail guys taking profits, so I don't play the blame the MM game, but that's irrelevant. All I was saying is that we only want to see heavy volume if it coincides with a strong move. Pullback, consolidation, or even a small uptick should not be accompanied by a lot of volume, otherwise you're looking at more selling than you'd want here.
Yezzir! Not complaining about this action today.
If this ends up being a consolidation or pullback day, then we don't want to see humongous volume. Heavy volume does not always equal good.
Gorgeous chart, major confirmed reversal on that weekly. See how far that downtrend was? Now that it's reversed, even when just a small portion of that retraces, it's going to make for huge gains. It's funny you tried to point that chart out as being a bad thing, but it's actually amazingly bullish at this point. Watch and learn.
Wow, I don't usually get too worked up over the companies behind the charts, but that could be quite the catalyst for this setup. It wasn't PRed by the company, the source seems totally legit, and it doesn't mention the stock ticker, which (when it does) usually just tells me it's a ploy to promote the stock rather than the company. I could be wrong, but this seems pretty impressive and could really get the momentum going. Like I've been saying, this is right under a key line of resistance at .001 and this could really help blow through that.
I think the chart is looking great still and today's close is very nice. Basically it broke above some key resistance earlier this week (.0008) in the form of the daily 50 MA, the 60 min 50 and 200 MAs, and is now hanging out right below the real key line in the sand, .001 (which has been the main support/resistance line the past 2 months). This little consolidation I highlighted on the 60 min chart here is a great setup and things really look like they're about to turn up, with the 60 min 50 MA crossing over the 200. The chart's showing some very nice accumulation which has formed a base the past 2 months, and things are ripe for a nice breakout, especially if there's some sort of catalyst to push it. Hmmm, nice PR you found there wrig. =)
Form Ts are just trades from earlier in the day posted after the bell. Not a whack paint attempt.
Yawn.. Most overused line used on stock board message boards.
Well it's upticked since that trade, so hmmmmmmmmm.
People can argue about the pros and cons of the company and it's future potential, but to me that's irrelevant. These types of plays get beat down so bad that eventually they're poised to run just because of the imbalance in supply and demand. Think of it as reverting to the mean, and when a stock falls from $3s to trip zeros, then that possibility is always going to be there. Will the company increase the A/S down the road? R/S? Maybe, but right now it's maxed out, people have had months and months to sell, and there's also likely a build up in short positions that would cover into a breakout here. Like I said, regardless of what actually materializes with the company, the speculation alone is enough to put in a bottom, get a base of accumulation built, and then push the price up. Once the momentum starts coming, you possibly could see shorts start to cover, and these are the types of plays that have the potential to really go nuts.
I don't know for sure if this will break .001 or not, and I don't know for sure that if it does, it will start flying, but I'll say that both have a good chance of playing out (imho of course). GOIG, EESO, SPNG, etc. The long term prospects for the company don't really matter, it's all about that perfect storm brewing and jumping onto the momentum when it's there.
Don't waste your breath. I don't invest in penny stocks, ever, I just play the charts for momentum. While people go on and on about how how horrible a company is, they miss when the stock runs right under their nose.
I don't even remember what I posted exactly, but I was just playing devil's advocate.
Just a guy that likes to scribble on charts.
For anyone that cares, HLXW just got put on the watchlist at my little old blog. Very nice setup, good luck to all.
You don't see many sub .001 stocks on the watchlist here.. and for good reason. The setups are very often just not clean and usually I just don't like the risk to reward enough to trade them myself, so they don't go on the list. It helps that this one is hanging out right below .001, and in fact that's the trigger on this setup. On the daily chart below you can see that the price has started to ease up considerably from it's recent downtrend, which has been pretty much just a straight plunge for the past year. While this isn't the prototypical breakout setup, there are a few things that are really hinting to me of a possible sharp rally coming up, and the 60 minute chart (second chart below) actually has a pretty decent breakout setup going for it. On top of the angle of the downtrend mellowing out and actually starting to flatten, the price action has now made it's way above the short and mid term moving averages (15 EMA and 50 MA), and the RSI is looking stronger than it's been since that September pop (and even that wasn't a healthy RSI setup). From December up until just now while the price was pulling out of it's tailspin, the RSI was bumping it's head against the 50 ceiling, and other than the September blip, that's been the ceiling for the entirety of the downtrend. Coinciding with the price recently breaking above the 50 MA is the RSI now trading above it's 50 mark, and factoring all that together leads me to believe that the stock is at a point where the next significant bullish signal could really spark a nice run. As far as what that next signal should be, it's pretty clear that .001 is the closest key resistance, which you can see has had multiple price bounces in the past couple of months, so a break of that is what I'm looking for.
To better illustrate the most recent price action, here's the 60 minute chart with the past three+ months of action. The .001 resistance is very obvious on this time frame, and the recent bullish price action I mentioned (daily 50 MA and RSI 50 breaks) is just as significant on this chart, with the price breaking (on heavy volume) above the 50 and 200 60 minute moving averages, and then consolidating on top with low volume. Now you have the 15 EMA crossing above the 50 and 200 MAs, both of those MAs starting to angle up, and the 50 pinching close to the 200 and looking to get above it. To summarize all this up into one line: I think the chart is in a position where the next buy signal has a good chance of success, and that buy signal is a convincing break of .001.
http://flippingpennystocks.com/
Just to play devil's advocate to your devil's advocate, but what if they need to sell shares to fund said gold digging operations? Start-up companies are called start-ups for a reason.
Except for when it doesn't. XD
Don't believe all the MM talk. Just because the stock hasn't been able to break .004 doesn't mean the MMs are holding it back, it simply means that there are sellers who need to get rid of their shares before it can move up. It wasn't too long ago that this was trading in the low .002s, so there are flippers who are going to unload into this pop. When they are all filled and the shares have been accumulated by stronger hands, the stock can and will then move up. Look for consolidation here in the lower and mid .003s for a while longer, then look for another price breakout.
All imo.
That would be me. The chart clearly shows the massive accumulation taking place and I think based on nothing but the chart itself, which reflects the accumulation and speculation taking place, this is setting up for quite the pop. I know the potential upside to these types of plays that successfully emerge with commons intact can be ridiculous, so I'll be holding some of my position as long as needed to possibly hit the lotto. I caught APCVZ last week and was really impressed with it's chart, but I like this one even more.
Yeah, more aggressive sellers on the ask today than yesterday, even though the volume wasn't as high. Bad news is the selling, obviously, but on the bright side the main support is holding up. It's going to be a battle for this support to hold up, but as long as the price holds it, I still contend that the bulls are in control on the longer term picture, but short term the bears are getting their licks in. I honestly hope that we never see a penny again, since it's been tested more times than I like to think about, but this whole range in the low teens to a penny is key support. The main resistance now is that red trendline and 50 MA (solid blue line), and the longer price stays below them, the more they come down. Eventually I'm expecting both to get lower and the price to bounce between the support and resistance I mentioned, essentially setting up to break above resistance. When that comes, I hope to see it on strong volume, whereas Monday's move up was on paper thin volume. To summarize, if price can hold a penny and stay in this general range, I'll be watching to see that resistance come down and eventually get broken, then hopefully we'll have our day. Good luck, and obviously this is all imo.
One last note, I was watching the L2s all day and it was ETMM (Etrade or TD) who was the most aggressive seller, and some other MMs would follow. That tells me that it was likely retail bailing today, and the other MMs weren't filling much, mainly ETMM.
On Monday the stock ran up on light volume from someone whacking the ask, which showed that there wasn't much being offered, but that buyer would have been better off being a bit more patient. With the price pushed up without much conviction behind it, some sellers took advantage of that by whacking the bid, which held up for a while but eventually the momentum got going and it induced the panic selling we saw today. The stock was able to close back up off of it's lows, and when some buyers stepped back in late today there once again wasn't much available at the ask.
Obviously the last couple days weren't good, but really we're right back where we started at. That run up to .025 was on such low volume that it really was hardly even legit, and the sellers took it right back to this range. Overall I think the chart is still strong, especially the further out you look at it from, and as long as the price holds this general range, I think it will still move up after consolidation. I wouldn't be surprised to see a little more testing below the 200, but I want to see that hold up and maybe for the price to bounce between that and the 50 MA. The moving averages are all converging, and I'm expecting the price to slowly start to tighten up along with the spread. Ideally we get news about all this stuff going on and that ends up being the catalyst, but I still think the chart is showing accumulation, with most of the volume coming at the lows. Look at a chart with the accum/dist line and you'll see it's at 52 week highs.
Like you say Millman, all imo.
For anyone that cares about the technicals on this, which imo reflect on the fundamentals and speculation going on behind the price action, I think the chart is setting up big time. I love when I find a setup like this and there's this kind of talk behind it, because message board chatter is one thing, but that combined with a very strong chart is entirely another thing. I added this to my watchlist today at my little blog and here's the scoop.
I had to add this one today because I see this price action as getting pretty interesting and ready to make a move. The security trended down from as high as $2 something over the past couple of years, and now a bottom looks like it might have been put in. The trendline I drew was roughly the ceiling during this recent consolidation over the past five months or so. What’s really catching my eye is how every time in the past the price hit this trendline range, it would selloff and multiple times it left a long upper wick, which showed the price was being rejected. You’d think that’s a bad thing, and while it does show selling, the good part is when that line in the sand gets overtaken. I read that as the sellers are finally drying up and the buyers were able to absorb the shares, and now there’s a higher probability of a supply and demand imbalance (in the bulls favor right now). You can see that the past week or so the action has consolidated real tightly on top of the trendline I drew, which like I said was acting as very strong resistance for quite some time now, and now it’s clearly supporting the price. After looking this over, I’d have to argue that this was actually a buy trigger when it closed above that trendline, but the next bit of resistance is right here at .052 – .055. The RSI is still hovering right under it’s key resistance, so it still may be in store for more consolidation here, but I’d recommend watching closely and see if this upcoming resistance gets taken out.
http://flippingpennystocks.com/?p=1460
Of course, but if this breaks out, today's volume will only be a drop in the bucket.
Bullish volume and price action continues on this one. Perfect time to see some positive news.
For anyone interested, here's a recap of the price action's bigger picture:
Since this play has been on the watchlist for what seems like forever, I figured I may as well put up the weekly chart to really put things in perspective and recap all the action. I first mentioned this when it was under a penny and officially added it when it was right around a penny, and since then it ran to .034 and then cooled off a ton. However, I maintained that the pullback was still in line as to be considered healthy, and here’s why I’ve thought that. First off, you have the mean downtrend which took the $2 something stock all the way down into the double zeros. After a downtrend like that, a long consolidation phase gives the stock a chance to reset and start over essentially, and that’s what happened during the majority of 2010. In October and November the stock made it’s first wave up, and you can see it was done with some healthy volume. When the stock topped off in the .03s, it stalled and consolidated, but as you also can see from the volume, there wasn’t much selling at all. However, the buyers didn’t jump back in after that break, so as is normally the case, it floated lower and lower until they saw a price they liked. You can see that the price essentially rode the declining 50 week MA all the way down into the teens, and that’s when the buyers finally stepped back in and seemingly put in a bottom. A few more things to note here: The horizontal green line I drew is some pretty key support. Intraweek we saw the price dip below it a few times, but so far it’s held up perfectly. The past three weeks the weekly candles have formed some real nice long lower wicks, which also indicates a bottom being put in here. Combine the recent reversal candles with the support and volume coming in down here, and the odds of this being a bottom really start to increase. Finally, take a look at the Accum/Dist indicator on the very bottom. As you can see, the indicator is showing some serious accumulation even during the recent lengthy pullback, and with the volume coming in at these lows, you have the indicator breaking out to new recent highs. There’s a lot here for me to like.
http://flippingpennystocks.com/?p=1423#more-1423
To possibly assist in your decision making..
I added this setup when the price broke that key resistance turned support (green dotted line), and since then the price has built a nice base right on top of that zone. That’s some price action that I love to see and has great possibilities to it, and for those who are already in, hopefully that means your patience will be rewarded. For those on the sidelines, the resistance zones to watch for breaks of are the descending trendline I drew, or the peak right under .30.
http://flippingpennystocks.com/?p=1423#more-1423
This setup triggered a bit ago and ran up to just below the 200 MA, and since then it’s pulled back to test support. With the resistance and support clearly identified, now we have some nice structure to play with. If you’re still holding from the initial trigger, then I’m guessing you’re waiting it out to see if support holds and resistance eventually breaks, but the other option for those on the sidelines is to take a shot buying into this support test. You never know how long these consolidation periods may last, let alone if support will end up holding, so always keep that in mind when buying pullbacks like this.
http://flippingpennystocks.com/?p=1423#more-1423
Overall the chart has what I like. There’s the extended downtrend that’s not pictured in the chart below, followed up by a lengthy consolidation period from June through November. Then you saw the stock make a move up and over the 50 MA in late Nov, and follow that up with a month and a half of consolidation. The ideal entry would have been to go long on a break above that range, but unfortunately I wasn’t watching it then. With the most recent peak and the obvious support from that 1.5 month consolidation range, we now have some nice structure to this chart for a potential trade. My guess is that we’re in for consolidation between the identified support and resistance, so you can either wait for that to potentially play out and take a breakout entry when/if resistance is broken, or play the possible bounce off support. In that case, you can just try to flip the channel and sell into the resistance, or hope that the consolidation holds up, and in that case you could have a nice seat for the breakout. If support fails to hold, then I’d say that’s a failed setup and a good time to cut losses. One side note: Everyone knows I’m a chart trader first, but I also believe that a strong chart could very well have something behind it. I think it’s worth noting that an insider has been buying into this breakout and continues to add to his large position. Not something I’d trade off in itself, but it’s nice confirmation to a strong chart.
http://flippingpennystocks.com/?p=1423#more-1423
The bid has gotten considerably stronger over the past week or so. For a second all the bidders at .01 were taken out and most likely a few stops were hit, but since then it regained a penny, then .011, and recently .014 and .015 have started to find multiple bidders.
I'm looking for volume to pick back up now, .016 resistance to get broke and turned into support, and for RSI 50 to get taken out. I'm optimistic all three of those are coming soon, and that should very likely get the ball rolling. Just based on other similar chart setups as this, I can see this one hitting .10 - .20. And who knows, maybe we get lucky and really hit the jackpot, though I'm not counting my eggs before they hatch.
Some PRs would be nice, hopefully something with substance too. The chart is setting up to bounce out of this most recent consolidation range, with .016 looking like a pretty obvious point of resistance. A break of that could get the party started.
The chart's been building up on this one for a while now, and just recently it started to really show some signs of strength. It was a pretty clear breakout play with .22 being the resistance it needed to break. A strong chart is often fueled by either positive speculation or some sort of solid fundamentals, and a strong chart in turn attracts chart traders who hop on for the ride.
http://flippingpennystocks.com/?p=1385
There is no Caveat Emptor Warning on this stock, which is reserved for stocks that trade on the pink sheets and have no information available. BOCL trades on the OTCQB, which for penny stocks makes it fairly legit.
OTCQB is the middle tier of the OTC market. OTCQB companies report to the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. There are no financial or qualitative standards to be in this tier. OTCQB securities may also be quoted on FINRA’s OTC Bulletin Board. The OTCQB allows investors to easily identify registered and reporting companies traded in the OTC market regardless of where they are quoted.