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Because they may want to have a technical close @ SMA-20 of 0.0115
Absolutely Agreed! Effectiveness of the PR could change the scenario. Multiples of the levels that were estimated could easily pan out..All in all, this is going to a fun ride!!
Guys, IMHO, following is some more statistical insight, and what we find is absolutely a well-played out trend. Adding to my posts # 77351, # 79874 and # 84555.
Firstly, we have risen from 0.0019 (previous historical low from week of Aug 31, 2009) in a very short time. Note prior to the uptrend (starting Sep 2009), the most significant resistances were highs of 0.0055 & 0.0075.
Now let's focus on the uptrend since Sep 1st week:
- We moved from 0.0022 (Sep 16) to 0.0095 (Oct 2) - about 15 days
- Next, we went down to a low of 0.0055 (Oct 7), and rebounded to a high of 0.014 (Oct 16) - about 15 days cycle from high of 0.0095
- Then, we retraced to a low of 0.011 on Oct 22, and blasted to a high of 0.0169 (on Oct 23) - about 7 day cycle i.e. exactly half of previous consolidations.
- Then, came the major downward consolidation with a low of 0.0077 (Nov 5) - about 13 days.
Now to the interesting part - let's look at Fibonnaci levels created in the uptrend from 0.0022 (Sep 16) to 0.0169 (Oct 23):
- 23.6% Retracement Level = 0.0056 (previous high & low)
- 38.2% Retracement Level = 0.0076 (previous high & low)
- 50% Retracement Level = 0.0095 (previous high)
- 61.8% Retracement Level = 0.0112 (previous low)
What a well trended chart!!
Now to some predictions:
If we assume pattern is maintained, we could look at 0.0076 as the low from which this has trended. Assuming 0.014 (previous high & low) as the 23.8% trend point, we come up with following numbers:
- 23.6% Level = 0.014(previous high & low)
- 38.2% Level = 0.0167 (previous high )
- 50% Level = 0.0196 (possible shor-term high point = 7*0.0028)
- 61.8% Level = 0.0221 - 0.0224 (next break-out point)
- 100% Level = 0.0308 - 0.0312 (next high point of the continued uptrend).
Let us see how this pans out..GLTA!!!
Recent historical stock trends for break-out price and highs in GRDO have based out of multiples of 0.0028.
Examples: break-out points of 0.0028 and 0.0112(both multiples of 0.0028), previous highs of 0.0055 and 0.014 (~2*0.0028 and 5*0.0028 respectively), and current high of 0.0169 (again ~6*0.0028).
It will be interesting to see if this times breakout starts at 0.014?
Check my posts #79874 and #77351 for previous statistical perspectives..
This is getting very interesting...GLTA!!
Precisely my point..last time FANC unloaded a lot of shares maybe to get GRDO money for Kendra's expenses..but as you know FANC works both ways..they either hold it down bigtime or bring the price up bigtime..so, was curious if they join the band during the breakout..could be mighty huge..just IMHO..
Any thoughts on whether FANC will join the mm bandwagon during break-out. IMHO, it will become an absolute monster explosive run if that happens.
this will be one helluva power hour..see the bids stacking up..GLTA..
The mm games continue..Had a buy order for 150K @ 0.014..they filled 115K at the bid 0.0135 and remainder at the ask 0.014..GLTA..
Got a chance to add 150K @ 0.013 and 180K @ 0.014 today...Definitely should get very interesting in the next few sessions..GLTA..
During this period of consolidation, though to add some more statistical perspectives:
I am sure you guys would have heard about fibonnaci retracement levels of 23.6%, 38.2%, 50% and 61.8%. Note that these retarcement levels represent the % of the cumulative gain from the last trend bottom (in our case 0.0019) to the current trend top (0.0169). If we calculate these fibonnaci retracement supports, they end up being 0.0055 (previous high consolidated for sometime), 0.0076 (another previous high consolidated for sometime), 0.0095 (another previous high consolidated for sometime) and 0.0112 (level from which this blasted to 0.0169 on Oct 23).
Assuming the uptrend continues, and estimating next fibonnaci levels based on back calculation we end up with 0.0095 (previous high at the 23.6% level), 0.0141 (another high which is now a resistance at the 38.2%), 0.018 at the 50% level (which is interestingly 0.006 previous low multiplied by 3), 0.0236 at the 61.8% level. Based on all calculations, 0.0341 could be the next high corresponding to current 0.0169.
It will be intersting if this theory based on fibonnaci's pans out..GLTA..
Has trading halted? No buys or sells the last half hour or so...
Strong support lines are being created day-after-day. Last week 0.011 was the low for 4 days, and it bounced off this level each day. This week the same pattern is repeated with 0.0135. Amazingly solid stock..GLTA..
MrStyle, if you are referring to my post, then let me clarify! I have not stated that this would be a smooth sail. All I say is that based on historical prices, key technical highs are 0.0035, 0.0054-0.006, 0.008 and 0.012. I agree with you that as we move along, new levels and supports / resistances will be created. This will very much depend on the market movers in play at the time as well as the overall trend of the technical indicators they want to maintain. But there is no denying the fact that past historical technicals will continue to be key breakpoints in any uptrend or downtrend.
MrStyle, patience is the key here.
If you followed the GRDO trend, it had consolidated in the 0.002 - 0.0028 range for a while (~>4 weeks). During this consolidation process, a mm called FANC would unload loads of shares day-after-day without the share price falling. Since with GRDO, the A/S and O/S were maxed out, it was certain that the dumping was not dilution. More likely the causation for the low range dumping was needed for the company to make money and pay someone it was entering into a deal with.
The INAR scenario is similar with some differences. We can clearly see that huge share blocks in sets of 500K are being sold in the 0.0023-0.0024 range. Now, this could be either dilution or "dilution" with a cause or simply the company selling shares. More likely it is a dilution with a cause scenario wherein the company is raising share count, but more so to grant it to other strategic alliances it might be announcing thru PRs.
Again, just IMHO..lets see how this game plays out to be..GLTA..
Can anyone please update (based on L2) the mm that has been unloading share blocks of 500K the past few days / weeks. Is it FANC? Just curious..
It is difficult to predict markets. But based on technicals, if there are good PRs, 0.0035s will be tested, and if news is strong, then previous highs in the 0.0054 - 0.0060 range could be very well tested. If these levels are blown through, then around 0.008 is next major resistance followed by next major resistance of 0.012. But all this could some days / weeks depending on the PRs and depending on how, if any, changes in the share structure has transpired since last update. Again, all this IMHO..GLTA..
Absolutely agree! Very rational post! Stocks will explode faster when they have a balanced share structure, especially with tighter floats - check out what's happening with GRDO, IOVE to name a few. INAR will have its day and will break-out..but it will take some time (based on the high amount of shares) to break out of pennies. All said and done, without doubt, at current levels, INAR is undervalued and will grow with continued strategic initiatives from management.
If we look at historical data last few months, this loves to trade in multiples of 3 from previous consolidation..
The range of 0.002 - 0.0028 took a while to consolidate with 0.003 and 0.0033, followed by 0.0048 (previous run high) as the major resistances. As soon as the 0.0028 was taken, it blew thru the 30s next couple of days, and blasted to 0.0048. Then once it broke thru 0.0048, it went thru a high of 0.0084 the next day (0.0084 = 0.0028*3) and finally consolidated hitting a low of 0.006 (= 0.002*3). Then, in the next cycle, it blasted to a high of 0.0095 (= ~ 0.0032*3 again around the previous major resistances of 0.003 to 0.0033). Once it consolidated and cleared this hurdle, it blasted to a high of 0.014 (which is ~0.0047 *3). Now again, if it clears this hurdle and ends up around 0.0144 in the next few trading sessions, with the right "explosive" news, if this 3 multiple trend continues, we could see a next high of either 0.0285 (0.0095*3) or 0.042(0.014*3) with immediate resistances back in the 0.018 (0.006*3), 0.0252 (0.0084*3) and 0.033 (0.011*3) ranges.
Just a statistical perspective..It will be fun when such scenarios will come out true..Go dogs!!
MMs have no shares remaining to give us.. They have build their limited inventory for the next run up..Still have 89K @ the ask 0.0115 which is not getting filled..
NOB, managed to get those 200K @ 0.011. Initially tried to go for the bid @0.0105 but they would not fill..
I have a 500K buy order at the ask 0.0025..not getting filled..
Bought another 288K at the bid 0.0115..kewl 588K shares bought for the day...
Just bought more 100K @ 0.0115 and 200K @ 0.012...GLTA!!
Have loaded 300K today between 0.0242 & 0.0259!!! Go ZENG!!!
Bought in 1.2 MM shares @ 0.0025 today..Go INAR!!!
I had a buy order for 0.22 for 9K, they filled me the 9K at 0.215 through the 50K sell...Kewl!! Time for ABWTQ to rock..
CEMJQ and SSCCQ are other examples of what can happen with these BKs if fundamentals are strong..Go ABWTQ!!
Clay, at your convenience, can you please annotate charts for IARO, INAR and BEHL. Thank you Sir!!
Guys, can anyone post the current float, O/S & A/S numbers. The DD sheet has Outstanding Shares: 1,224,446,947 as of Jul 31, 2009 and Authorized Shares: 1,990,000,000 as of Jul 31, 2009. Thanks and GLTA..
5.25 million @ 0.06 GTC till Feb 2010
Got one colleague in at 0.0037 sometime back..another one got in around 0.0075..GLTA..
You just messed up the mm plan..They would have loved to have seen this hit 0.005 (SMA-20) and then do a quick rebound. As Rams and Klop have been saying, this technical adjustment was needed from the mm's to retune for the bigger run. Anyways, congrats on ur buy..