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You're right, it has proven to be a money pit in the past, and that's why in six years of trading MONA has never had a buy signal on the weekly chart.. until now. The basis of this type of play is the stock get's ultra depressed and then the basic laws of supply and demand will pop it back up in the direction of the median range. I'm holding my lotto tickets on this one and the chart's telling me my numbers have a good chance of getting called.
jmo
Like I said I've been able to catch big runs from similar shell stocks with worse share structures than this one, and the charts have been helpful in timing those too. I've got nothing but time, I'm willing to wait this one out.
Chart says otherwise guys, but if you start paying my bills (like playing the charts has done for me) I'll consider what you say as well. You're basing your bias on the history of MONA, but these types of extremely beatdown charts will make for some of the best bouncer/runners, as long as you know what to look for. MONA has bottomed and there aren't many shares available at this range, and I wouldn't be too surprised if over the past 6 years of downtrending this has built up a big short position too. Sitting on 60 million shares and I'd like to get that up to 100 at some point.
This will go much higher than .0004.
jmo
As of 2 months ago that's what it was, I highly doubt it's changed since then. Thanks anyways.
I personally own 4% of the float, trust me there aren't a lot of shares available in this range, the chart shows that too.
I have the float at 1.5 billion, not bad at all and definitely pumpable. As far as shells go, this is a very nice one imo. The chart is showing not many sellers left in this range and not a lot of shares available. Perfect shell play.
jmo
That's exactly what I see this play as. I've caught more than a few real nice runners with chart setups very similar to MONA's current one. I'm disappointed that .0003 didn't have a stronger bid, but a lot of grinding back and forth is expected on plays like this at this point. .0004 is major resistance (15 of last 16 months have traded below this point) and when it finally cracks, it's going to run hard.
just my opinion
I'm sorry buddy, not too sure what you're asking me here.
No, that wasn't an Ichimoki (or whatever) chart, I don't use that method. The green area is just an area where very little shares previously exchanged hands and the red area is where many shares were traded.
Agreed. These don't just come to life and then go to the moon, they have an initial spark and break through resistance, consolidate for a while, push higher, etc. For people who are in at .0001 and .0002, each tick is either 100% or 50%, so you're going to have flippers at every level. Give this one time is how I highly recommend playing it. IMO if you don't have patience, these types of stocks/trades might not be the best for you.
Being on the bid means they are buyers, lol. ARCA is sitting on the highest bid and has closed it's ask, in no way is that a sign that it's trying to hold it down, in fact it's the exact opposite.
Probably only one or two, this chart has been waiting for a little buying pressure til it pops, hopefully that gets the ball rolling.
I don't have a reason other than the chart has been setup to pop for quite some time now, I think this is the start of a runner, or at least that's what I'm hoping for.
O/S is 5.8 billion per their last 10k, not sure about the float.
I forgot to mention that the vol by price you can see on the left side is how I know that range is key. That's where the most money volume has come in at on the chart, and we want them to be in the money, not underwater.
"That wider yellow highlighted area is the major line in the sand the bears and bulls are fighting over."
That wider yellow highlighted area is the major line in the sand the bears and bulls are fighting over. Last week's rally ran right into that resistance and hit a brick wall, but the stock didn't selloff at all (virtually no vol since the move up), the buyers just took a break. I very strongly believe this is just a breather before the bulls take over that area and start using it for support. This thing moves on air and getting back over there won't take much buying, and anything over the 15 EMA right now I see as bullish consolidation. Some other bullish notes:
-After the pocket of resistance at .0018 - .0022, there becomes less and less chart resistance, and nothing major until past .006.
-There's that gap still hanging open at .0045
-15 EMA just crossed over the 50 MA, first time since last Aug (before it ran for 2 months)
-Accum/Dist recently has broken out to new highs, very interesting since the price isn't even close to that. Why this is becomes obvious when you look at the overall daily volume bars from the past year +. The one huge spike that marked the top was very, very obviously some heavy duty selling, which is when you saw that Accum/Dist indicator drop off, but other than that all the other volume spikes have come on big up days. They have been spread apart too, but for the most part it's been steady buying with no significant selling.
-MACD is also showing some big bullishness with the higher lows diverging from the prices lower lows, and now you have the lines breaking past 0.
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I think the chart is ready to pop on MONA (for whatever reason), so I'd at least watch it for a break of .0004. That's major resistance and if we see a break of that, it's going to run.
CEO owns 75% of the OS? Hmmm. FWIW, I've been adding to a position in this one for a while now based on the weekly chart, which IMO is setting up to breakout. I think this has a good chance of seeing .001-.0015 in the coming months. Chart to me is showing accumulation, and that makes sense if the CEO has 75% of the OS held down.
Everyone may be right about the company, but a few things I can tell for myself. There is no active dilution at the moment since there is no volume. Maybe they sold into the last spike, but at the moment it's just floating around and there is still a bid under it. If they want to dilute more, it's going to need to run, which brings me to why I've been accumulating this as a lotto pick. The chart on it is set up to pop big time, all imo of course. I don't know if they will release news or something that pushes it, but the chart shows the downtrend has been broken and accumulation has been real obvious the past year or so. I got all the time in the world, but one of these days this will pop. Mark it Donny.
I don't care what the company does or doesn't do. Hell, 99% of penny stocks are scams to one degree or another. MONA is a scam? Great. The chart is still setting up to pop big time. Holding 60 million shares and will look to get to 100 as long as the price stays down here. Buy the silence, sell the noise.
.0002 (3) x .0003 (3). First time I've seen 3 MMs on the highest bid since I started watching this.
Well, I'm sorry you got burnt on this one. Just my two cents, but charts can help prevent stuff like that, but you have to put in work to make use of them. In 07 and 08, the stock was trading below a declining 50 weekly moving average (which is a sign of a long term downtrend fully in effect), and fyi pre or post R/S, the moving averages don't change in relation to the price. When I look to play these ultra beat up stocks such as this one, I always wait for the weekly 50 MA to level off/ stop declining, and the price to start trading back above it. Just throwing it out there as a friendly gesture, it's something that has worked wonders for me, but obviously I can't force you to have an open mind on the subject.
I appreciate the words of caution, if you are truly just trying to be helpful, but again they are not necessary. Good luck.
Which just shows you that our timeframes our much different. I've heard the same arguments for plenty of the setups I've played, over the years I've learned to trust the clues in the charts over other people's opinions. RMDM, IVIT, PMDP, XHUA, etc. They are probably all scams or shells, but that doesn't stop them from going on great runs. Even this stock which you claim is a scam, which again may very well be true, has gone on some big runs in the past.
Heck, I wouldn't be surprised if 99% of penny stocks are scams, but they all run at some point. Treat them all like turds and just learn to time them. MONA will run in the next couple of months, imo, and if I'm wrong I lose my investment. I can accept the risk and the potential reward is great enough to make it worth it.
Yep, I have no idea what I'm talking about. This has only been my sole income for the past 5 years, but I'm clueless.
lmao,good,that only means how short you carier in stock is and will be.
I'm not even sure what this means.
Thank you for your concern, but I've been doing this for a long time now. I see something I really like in this chart and am fully willing to gamble on it. The long term trend has been broken and back in August some significant money came into this stock, and volume will tell you that they are still holding. I don't care if it was insiders, newsletters loading up in anticipation of pumping this, a wave of short covering, etc. It doesn't matter, all I know is that for the first time in this stock's history, money is starting to pour into it, not out of it, and I'm following it.
On setups like this, I'll risk my entire investment for a chance at making multiples of it.
Scams run too, sometimes harder than legit companies. I've been playing pennies strictly off of their charts for quite some time, and I've profited off of plenty of scams. I'm not saying MONA is or isn't, I don't actually care. Charts are showing something brewing, jmho.
Sure can, I have lots of them for this play. This is a longer term swing trade based on a 6 year downtrend being broken recently. I call this type of play a lotto breakout play, and the reason I consider it a lotto is because you're taking a huge risk by buying when there is no action, in anticipation of some volume and momentum coming in, which gives you liquidity to sell into. The criteria is a long term downtrend where the stock is beat down mercilessly, a break of that trendline along with an extended period of sideways trading, and the last thing is you need to see that initial wave of buying on very heavy volume. I don't jump in then, I wait for the low volume pullback, at which point I buy into that short term weakness in anticipation of the longer term trend (which is starting to turn up for the first time in a long time, or first time ever as in MONA's case)continuing to move up. The overall conditions are very favorable to buyers, and any news or positive developments would be a catalyst for a significant breakout. News isn't even required, I played a very similar setup last year, XHUA, and that one ran 700%. This first chart shows the entire history of MONA's price action, and you can see it's trading on the right side of that trendline for the first time ever.
You can see in that chart the long term downtrend, the sideways bottoming action, the initial wave of buying on huge volume, the low volume pullback, and finally the broken trendline. Monthly charts are great for looking at the bigger picture, and overall MONA's is looking very favorable, so now you have to zoom in to shorter time frames for timing your trades better.
Here is a weekly chart where you can see the action a little clearer, plus I drew that main resistance to watch for. If you don't want to take a chance here at .0003, I'd highly recommend at least watching and waiting for a volume backed break of .0004. I can all but guarantee that if you see a convincing break of that (news or not), you're going to see this stock move.The last thing to note is the bollinger bands (pink lines), which are tighter now than ever before. Tight bollinger bands represents narrow trading ranges, narrow trading ranges generally lead to sharp price movement (and vice versa). One way or another those tight bands are preceding some sort of breakout, and my money is on it being to the upside.
Finally you have the daily chart, but there's not all too much you can see here that you can't see on the weekly chart. I also drew the resistance, and you can see that the daily bollinger bands are also getting very tight. The moving averages, everything from short term ones to the 200, are all clumping together. Again this is just a sign of the price trading in a narrow range for quite some time, so it's also often a sign that a breakout is forthcoming. I didn't include them on this chart, but as far as indicators go, Accum/Dist, Chk Money Flow, and On Balance Volume are all looking extremely bullish. This is important because a bullish weekly or monthly chart doesn't mean jack to short term traders if the daily chart isn't ready to move.
This is one of the cleanest setups of this type I've seen in a while. My timing on them usually sucks, I waited 6 months for XHUA to really pop, but eventually they tend to play out. I've been holding MONA since Nov, so I'm really hoping that it means it's getting close to popping. Like I said news isn't always totally necessary, but a nice catalyst on a chart like this would go a long way. Merger news would be very nice right about now. =)
Can anyone explain the relationship between this stock and MONA? I am holding some of that stock based purely on chart technicals and read a PR that mentioned MONA was buying some of GOIG's assets, and since then GOIG has obviously ran big time. Just wondering if anyone had any idea if any of this momentum over here would bode well for MONA. There is little to no volume right now, but I guarantee you that if .0004 get's broken with volume, it's going to run hard.
Was that deal only beneficial to GOIG? Thanks
http://www.earthtimes.org/articles/show/monarc-corp-monapk-acquires-goip-global-goip-china-assets,1104038.shtml
I have no idea how this whole deal with GOIG will play out, but the chart on MONA is setup for a huge move to the upside. If there is a catalyst that can get us enough volume to break .0004, I think this one can go nuts. Holding a pretty big position in this one, looking for the homerun.
I think they're talking too and I've attempted to decipher their codes. Here's what I think they're saying today.
NITE: Hey ETMM, do you want to go get coffee and muffins for lunch?
ETMM: Yeah, that sounds good, where at?
NITE: How about Starbucks?
ETMM: Aww man, I can't go. I spent all my lunch money on these little $10 messages. Next time can we just use the phone?
NITE: Oh man, why didn't I think of that? Jeez, wait til I tell UBSS and VERT!
Ironically it's the best trade (or combination of trades) I've ever made. Averaged in initially at .0015 (over multiple trades), took some profits at .0036, added back again in the .002s, took more profits at .0065, .0081, and .0085. Now loaded back up again at .0055, .0035, and .0025.
I apologize if this comes off as too harsh, but the problem is your timing, not the stock.
The 10k was not the reason for the sell off, it came out well after the damage was done and the only trades to go off after it came out were at the ask, minus one small trade at .0038. The stock spiked on a strong technical setup mixed with some very suspect message board hype, and traders used that as an opportunity to take profits from the runup since July. Yesterday's candle was a bearish signal and today's sell off wasn't too surprising, though it did look like an exhaustive move by the bears and the strong close is a good sign, imo.
This stock cracks me up. First off some random new poster starts an unfounded rumor about imminent news being released, and when it doesn't come out people freak out. Then people are reading irrelevant news from a totally different company to add more confusion. Finally we have some people claiming pump and dump when this stock has not been promoted by any website or emails/flyers. etc (i.e. the pump).
I have been holding this stock since March (with a little flipping here and there) because of the charts on it. Whatever the reason is behind it, someone started accumulating back then and that started to turn the chart very bullish. All this speculation recently has made for some wild swings, but overall the longer term trend is still up and the longer term picture is bullish.
This is not a pump and dump (at least yet) because no one has pumped it other than a few random internet posters. The only news that has been released from this actual company in a long, long time is this bit in April about the readjusting of their business plan and switching over to the auto part distribution industry.
http://www.prnewswire.com/news-releases/xinhua-china-ltds-strategic-readjustment-61881852.html
With only 1 PR in such a long time, this company obviously isn't pumping up their own stock with fluff either. This is purely a chart play for myself with a little speculation as to what's actually moving it.
FAILT? LMFAO!