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Yep, there was a good dip when some shares went through at the bid, but like you said it closed at the high of the day. Good stuff, we're going to be making money on this one, you're right about that.
Yep, it's a great sign ernie, you're right about that one. An intraday dip that was still able to close strong. Some shares exchanged hands at lower level and continue to build a strong base here. Beautiful candle formed with a nice lower wick. Things are definitely starting to turn bullish for MONA, I'll agree with you on that one. When this one pops, I'm buying you a beer, buddy.
Look at the daily RSI, OBV, Accum/Dist, and MACD. All of them are hitting extremely bullish levels. Crossing my fingers on this lotto!
Opened and closed above the VWAP. Nice! Good post Ernie.
We're busting out soon, huh buddy!
Bought .0004s yesterday and .0003s today. I think this either pops very soon or consolidates on top of the old range for a bit, then runs. It's looking good this week.
Here’s a weekly chart for MUTM, and the key aspect that has me liking this setup is how the price gapped up this week and is now trading on top of that six month long channel. You never know if in these cases the stock is just going to take off from here or if it’s going to build a little base on top of the previous channel. A little dipping back into the old channel isn’t uncommon, but ideally the bulk of it’s trading now is done above it.
http://flippingpennystocks.com/?page_id=526
Yep, I'm guessing a lot of that was retail guys in from the previous level cashing out some. Some weak hands (not that there's anything wrong with locking in a few hundred % gains)sold into a new base here. After enough is accumulated around this area, it can push higher. Crossing my fingers at least.
Please explain then.
PS, I've been around the block a few times myself.
Here’s a weekly chart for MUTM, and the key aspect that has me liking this setup is how the price gapped up this week and is now trading on top of that six month long channel. You never know if in these cases the stock is just going to take off from here or if it’s going to build a little base on top of the previous channel. A little dipping back into the old channel isn’t uncommon, but ideally the bulk of it’s trading now is done above it.
Just added to the lotto watchlist:
http://flippingpennystocks.com/?page_id=526
Do you know how easily that could just be retail flippers? Every tick is big money for the people in at .0001 and .0002, so you can't expect this not to do some churning here. JMO, but when the previous level's sellers are done, this has the look of breaking out higher.
Thank you, glad you like the chart.
I just prefer to wait and buy when I think the momentum is going to come in. I've been watching LYJN for a little while now waiting for it to break out of this consolidation, and had I bought in right away I'd have that money all tied up. It's not a huge difference to me to get in at .23 or .25, so it makes more sense to me to just wait for that resistance to break.
No offense taken Jared, I appreciate the time you took to respond. My feeling is that with charts reflecting everything that is currently known about a stock, there are advantages to being in tune with the price action. When key resistance is broken and holds up, to me that's a sign that the bulls are accumulating and pushing the price upward, for whatever reason. If nothing else, a breakout at least gives the trader a line in the sand to help. If it breaks and holds, you hold. If it falls back below that key point, you bail and wait for the signs to point back up. It helps me to determine trades with better than average odds and to minimize risk. Works for me, but to each their own. Good luck to us all.
JYHW - Bounce setup in progress with a very obvious trigger point at .25. The reason I say it’s obvious is because of the multiple times it’s bumped into it and stalled, making it hard to miss as resistance. Like any other trigger point I post, watch for a clean break to hopefully spark the action.
http://flippingpennystocks.com/?p=671
SNBP – Same deal as many of the others, a nice little consolidation range that’s forming on top of the previous channel. Thanks to a very tight trading range, we now have a clear cut trigger point at .29, aka the recent consolidation’s high point.
http://flippingpennystocks.com/?p=671
VASO - The longer term picture is bullish thanks to that huge candle on the chart, and then after a solid consolidation period we had a trigger point at .20 that we took. Since then the price has held the old resistance for new support, and now it’s forming that often talked about mini consolidation on top of the previous channel. For those on the sidelines, .24 looks like a solid new trigger point setting up.
http://flippingpennystocks.com/?p=671
ECPN - Yes, I tend to repeat myself, but it’s mainly to really reinforce the key points. Notice how the price is consolidating right near the ceiling of the range it’s been trading in for the last four months or so? BULLISH….. until proven otherwise.
http://flippingpennystocks.com/?p=671
LYJN - Longer term picture looks bullish, so that’s why I want to look for an entry on a breakout of this tight consolidation. That’s pretty much the basis for most of my trades. Trigger point is at .0245 – .025.
http://flippingpennystocks.com/?p=671
DIMEQ – Here’s another case where the price breaks on through key resistance, then starts to form a little mini consolidation on top of the prior range. In case you missed the last 47 times I mentioned this, I’ll say it again. That’s generally a very bullish sign, but just be aware that a failure to hold the old resistance as new support is not.
http://flippingpennystocks.com/?p=671
ABTG – This was a recent mid week addition, and though it briefly flirted with a break of the marked resistance, it ultimately failed to cleanly trigger (couldn’t close above it). I mentioned in the post where I added this, that ideally we saw this consolidation range fill out a bit more, and that’s exactly what’s transpired. Another few days of banging around between the red resistance line and green support line would really set this up nicely for a break of the trigger point (red line).
http://flippingpennystocks.com/?p=671
I don't think it'll drop, I think it's looking like it could pop soon.
VKNG - For the loyal devotees who have been here since day one (which was a whole three weeks ago), you should be well aware that this was another successful trigger at .25, and since then the action has been nothing but encouraging. The price busted up into the lower .30s and has since consolidated beautifully, now a break of the high point of this recent consolidation should trigger the next move, which I think will be stronger than this first push.
http://flippingpennystocks.com/?p=671
APPY - One look at this chart and the fact that it’s a bounce setup should be obvious right away. The main criteria I look for is there, mainly the extended selloff and the reversal candle pattern (inside the green box). Is this where we’ll finally see a decent bounce? I can’t tell you that for sure, but I like the odds here as well as the risk to reward.
http://flippingpennystocks.com/?p=671
SFEG - This is a gold play with a really nice longer term chart to it. It peaked out in late 09 and has since then pulled back all year, but even after all that the price is still seemingly holding it's 200 week MA. Basically I'm looking for a reversal/ bottom to this seven + month pullback, which then ideally leads into a new wave up on the longer term time frame. In the chart below, you can see where it made two lows recently around .80, and now the price is back and trying to push above the 50 day MA. The trigger I'm looking to play is a break of .90. I don't know if that trigger will necessarily lead to a huge run right out the gates, but what I'm looking for is at least a decent move and for the price to gain some ground and hold it.
http://flippingpennystocks.com/?p=671
I can't argue with anything you said there kraken, but my stance isn't to invest in the company based on anything other than what I see as timing the moves. I'm simply looking for a nice rally to sell into, whether or not my timing is right remains to be seen. I've said it before multiple times, I really don't care what the company is doing or what they've done, I'm simply looking to time this right. Sometimes my timing is right, sometimes not, but I have a good feeling about this one. GLTY as well.
I'm holding over 60 million shares, I've hit the ask plenty of times buddy. Obviously there's no demand at the moment, I've acknowledged that plenty of times. My point was if this stock is dead like Ernie said, then there surely should be someone willing to sell at .0002. Correct? Plus, if the stock is dead, why make it a point to come here and remind the few of us here. LMFAO
My view of the chart and the major accumulation the past 2 years at these levels, the lack of sellers, and a persistent nay sayer is all the evidence I need to hold on tight to this lotto play.
IMO I'm LMFAO
Funny that for a dead stock, no one is willing to sell to me at .0002. Hmmm I guess dead means no sellers either?
LMFAO, IMO
You're not getting very many shares at .0001, I absolutely guarantee that. I tried multiple times to get some at .0002, and even when the asked dipped there they'd only fill me with no more than 100k shares and then quickly scatter off the .0002 ask. I still strongly contend that this is a time to buy, and apparently no one wants to sell any lower than .0003. You can't argue with the facts ernie, I've been trying to buy at .0002, it ain't happening. The sellers are completely dried up down here, any slight bit of demand will push this up and spark a run. Mark it.
So you're saying I should buy more? Ok, if you say so ernie.
Here's my 2 cents on your reply. Charts are a mere reflection of the price action of a stock, and the there are many things that affect the price and what it does. Bullish setups are set up for a reason, and whatever those reasons are, they're manifesting into the price action you see.
I've had this argument/ discussion literally hundreds of times. Many people want to stay close minded on the subject and swear that TA is irrelevant, and the argument that "this stock isn't affected by TA" completely misses the point of what it does. News comes out, price reacts, charts reflects. It's the traders job to make sense of the noise and formulate a plan based on the charts, doing what they can to find trades with odds in their favor and good reward to risk.
Take it for what it's worth. You are entitled to your opinion, but I can assure you that what you say is not a fact. What is a fact is that charts have worked for me and have been my number one weapon in trading. If you're up to the challenge and are interested in seeing my side of it, go to that site I posted and read through the many articles and posts I've written. The blueprint is there to get you started, but it'll only work if you have an open mind.
One quick example of how I use charts to improve my odds and find trades with good reward to risk (notice I didn't say predict the future), DIMEQ is a buy trigger on Friday's close, and if it falls back below .48 and can't recover, it's a bail. That's the downside risk, but the upside is a breakout here. Remember this, if DIMEQ breaks out here, there is a ton of upside. I'm not saying that it'll run because of TA, I just used TA to apply structure to the action and form a plan. Let's see how it works. Long DIMEQ at .49.
Low volume at the moment, but that can be true for a lot of these setups. The idea is when the breakouts trigger on them, it draws in the momentum and volume. Once again, I’d actually consider this one as triggering already, with the .49 close on Friday, a tick above the resistance from the recent channel.
http://flippingpennystocks.com/?p=551
What you don’t see in this chart is the insane rally this had in Nov and Dec of last year. This ran from the very low .00Xs all the way up to the nickel range, and unlike most penny stocks that have similar runs, this one actually has held a respectable amount of those gains. This may or may not be bottoming from that rally’s extended pullback, but a break past the red line on this chart would have me convinced that bulls are going to come out to try and continue last year’s run. I’ll put the trigger at .017.
http://flippingpennystocks.com/?p=551
Since late last year this stock has been in a downtrend, and the action you see in this chart here looks to me like the stock is trying to put in a bottom. You see the low it made near the left of the chart, followed by a sharp rally, followed by a low volume pullback and consolidation, and most importantly a failure to make a new low. Now the past couple of weeks you see the stock starting to come to life again, in fact I’d call those last ten candles a flag or triangle pattern, and Friday’s candle is extremely close to triggering that pattern. This could easily be in play as early as Monday, so heads up.
http://flippingpennystocks.com/?p=551
This may not be the ground floor price levels for this stock, but the first rally went so smoothly and we’re set up so nicely right now on this potential second one that risk to reward is still heavily in our favor here. The rally in May was short and very steep, but after almost three months of profit taking, the stock is still holding up beautifully. The multi month consolidation has pretty much completely negated the overbought levels the May rally brought on, and as soon as the price breaks this breakout trigger point (.65), I’d expect some momentum to come in. Ideally the price can continue to consolidate here right under the .65 resistance and hold above the 15 EMA, but I can see this one breaking at any moment.
http://flippingpennystocks.com/?p=500
Then I guess you're selling? I don't consider this a break of support at all. First, I put support at .0025 - .003, and only a sliver of volume has even touched the top of that range. I wouldn't like it if heavy selling took out .0025, but even then there's still major support below that. The amount of volume backed support in the upper teens and lower .002s is very significant, but ideally that doesn't even get tested again.
We're back into consolidation mode for the time being, but if you think support has been broken then act on it.
Here's a little chart analysis for LYJN.
You can see the huge move this made from sub penny land all the way to a dime +, and since then it’s still managed to hold a decent amount of those gains. The green line and the 50 MA (blue line) are the support I’m looking for this to hold above. The red line is what I’m waiting for a break of to take as a trigger, and that green line gives us a reasonable stop range. Ideally this breaks the peak it formed a few weeks ago in the mid .03s and then hopefully keeps going.
Check out this little write up on XHUA and it's short interest.
http://flippingpennystocks.com/?p=475
The size of the trade is irrelevant, if the bid is low and someone sells at it, the price will dip.
I haven't entered a position here yet because I haven't seen the signs of an imminent bounce, but it's getting close. Been doing this for five years now, trust me this will bounce hard at some point. Don't believe me? I don't care. You trade/ invest how you see fit, I'll do the same. Adios.
I ignore fundamentals for a reason, they don't help my timing as a short term trader. The rottenest of the rotten stocks will bounce from nothing other than technicals, traders all pile in at the same time and force some short covering. Trust me, this one will have it's day for a big bounce, dead cat or not.