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The bullish trend has been confirmed with our HOD ending at .0125. The consolidation period seems like it's almost over and we have churned a new base at .01. As I look at the chart now, we still have to pass a resistance level at .014 and .018 and then we can push toward .025 in the coming days. If no news at that point, I expect we either hit .025 and then churn around .02, consolidating along the way OR we break past .025 to a .03 range (and thus creating .025 as support).
.03 short term is a possibility for a couple reasons. One is that buying once again outnumbered selling 2:1. This accumluation means our float is becoming locked out again - higher highs, but faster as well! Also, no big blocks of selling occurred at the EOD - THIS IS HUGE! The big blocks were slowing us down but they will no longer hold us back.
I'd like to urge everyone to hold on to their positions during this period and if you must sell, sell that the ASK! Don't be the person to kill the trend because you're impatient and want your cash 5 minutes before it will sell. With that being said, if we churn in the .02-.025 range and then merger news comes out (IF IF IF, don't want to jinx it), we could be seeing a 4 bagger from that level during the same trading day! The gains and consolidation we make now have a multiplicative effect on merger news imo, so hold on tight and get shares ASAP before we jump to 2s - JMO
From the looks of that L2, Nite is sitting on a rapidly increasing bid trying to shake sellers of shares to flip on the ask later today. DONT SELL ON THE BID, SELL ON THE ASK IF YOU MUST! I would wait for the bigger payday, though :)
You've chosen a solid chart, solid DD and the capability for this stock to really BOOM on a PR regarding the merger.
Time will tell if the large block conversion sells to retailers at EOD are still coming or if they are finished. If they're finished, this will continue to rocket up next hour. If not, we will still be churning a solid base and I feel that slow, steady gains are better than really fast gains.
First L2 barrier down, .0109 is next and then .0115. After that, .014 would be a nice EOD and then tomorrow's buzz could drive this to .025 for the weekend!
SLAP THE ASK! :)
Bullish Harami was created yesterday and now forms a Bullish Three Inside up today, pending a higher close than yesterday! If we finish above .01 today, chart reversal confirmed and the new uptrend to .025 will begin!
Based on some calculations of board members that visit here rgularly, the conversion of stock being sold in large blocks on the market (at EOD) to pay off a $60K convertible note is almost done (if not already done). We think this means merger news could be anytime after the conclusion of these blocks entering the market.
Please note that this is not the type of dilution that a POS Penny stock uses in a pump-and-dump scenario! This dilution is intended to pay off debt to make the reverse merger a clean transfer, so take all this into account, do your own DD and pick up shares while you can. With this low float and the potential to R/M with a major company, this stock could easily be a 5 bagger. Maybe even more - JMO
L2 looks thin to .025 --> gotta get through .011 and .014 first, though! We need higher volume as well to sustain a run like that.
Can someone provide screenshots of L2 throughout the day? Would be nice to see how thin the buy side of this stock is atm. I'm running IHUB's delayed trade tracker but that's not the same. As soon as the volume picks up, we will blast off from the support we have just created at .009!
IF we were to travel to .02 land by EOW, we would need to break resistance at .011 and .014 (roughly) in order to get there. Once past .014, .024 is the next stop and then we would be in a blue sky breakout!
cinfuax
I don't have a subscription to this site so I only get 15 posts a day. Been trading a while now and I consider myself a swing trader that plays off chart fundamentals (and confirmation with DD of course). I found LUXD on a scan and this board is very level-headed so I took an entry position during the run up. The .018 spike last week was my buy and then it immediately dipped, so I was mad at myself for playing a bit reckless. Now the chart is becoming more solid and the DD is stellar so I have averaged down to roughly .011 and I'm playing this one out until we hear news! I firmly believe this is happening soon so I am holding for the forseeable future.
I'm expecting a PR in 2 weeks MAX. The selling of converted shares is almost over (if not completely done already) and we finished EOD yesterday despite a large block passing to retail again. I guess today is Lazy Thursday or something, but the volume will pick up eventually in this stock and we will benefit enormously.
I'm still long and strong!
I haven't sold one share yet and don't plan to until PR of the merger. And only then, I'll probably flip around a core position. Others are heavily bought in too - it's just a matter of time!
A green close today would confirm the hammer created yesterday and would give us a Friday spark going into the weekend. To the people with cash, SLAP THE ASK!
Onemessage can shed more light on this, based on his formula. He believes the conversion already occurred at a much lower price and the company is just sitting on the shares, selling them into the market each day. At an avg of .0043 or something like that
An additional observation:
Check the daily chart for LUXD's candlesticks right at the beginning of September. There were two down days in trading - the second day was marked by a hammer and then two extremely positive trading sessions after that.
Now look at the chart for the past 2 days - both days have been negative days, but a hammer is forming into today's close. .0085 is a strong possibility to lock in this hammer candle. If we see additional buying pressure tomorrow (and a volume increase), we could see positive days Thursday and Friday - ESPECIALLY if the large block trades are coming to a close soon. We need confirmation on this minitrend reversal but I think this chart is REALLY primed for a good last part of the week
Edit: someone just broke through to a EOD high so the hammer seems to be fading but a spinning top would also help this chart out! A lot of ihubbers are chart players (like myself) so a strong chart will also attract interest as we gain momo towards a R/M PR
Was it a large sell order? As long as buys outweigh sells, we're in a great spot - doesn't matter the pps right now. It means that once volume increases and the pps increases, we will see massive gains.
Buys currently outweigh sells 2:1!
Yes, pps is bouncing off of MA(50) quite well imo and the weekly signals a nice consolidation phase on lower volume. Once these large blocks stop selling @ close (presumably the converted shares entering the market), this price will take off. Until then, buy cheapies! I expect another block to run through later today, right befor EOD, but then I expect a paint at EOD of .0085. We're trending a bit lower at this point but the chart remains intact so I encourage everyone to get in now before this stock runs because it's priming for a gooooood run! JMO
I was bid #3. the 28225 order. I put a bid price in to try and support the bid early today (it was a buy bid so relax, I haven't sold a single share of my position!) someone sold the shares to me and dropped the bid/ask. I wish I had more to invest at this point but I'm about tapped out :( maybe Friday I can add a bit more.
Haha, this is great! So far if it's delayed a bit - this is a great tool to have. I'm bookmarking it!
Also, 5:3 buy/sell ratio is quite good, despite the PPS "Dropping". If we were truly in a downspin, sells would outweigh buys. My guess is that the price is being held down by lack of heavy buying pressure (retail MMs buying low, selling high - UBSS seems to be the big player).
Can someone with L2 post the buys and sells so far today? It seems like we're churning pretty well at these levels and the weekly chart is still in a solid consolidation phase, but I just want confirmation through similar buys/sells.
I think we're going to see PR hit the wire before November...
JMO of course but the conversions are almost done and after that, we will probably see news shortly after. The company cannot comment on anything (obviously) so why would our opinion change at this point? If you believe the merger is happening within the next month, you'll stay on board. If not, I'm sure some people will gladly suck up those shares and hold for bigger gains.
Solid pickup! You must be holding at least a half million shares now, right?
Haha, you're gonna have to clarify for those that might misinterpret this posting incorrectly (I know where you stand though)
You mean that it's a great way to pick up easy shares, right? And not that you're shorting the stock for profit? :)
You don't think I've done my DD? That's the reason I'm still in this stock. Even as the chart regresses slightly, I believe this is still a profitable play in the next couple weeks.
MACD has crossed this morning which isn't the best chart indicator. However, Williams % is low (signaling the stock is oversold at this point) and ADX is not pinching or crossing red over green (which means we're still churning)
I picked up another 25k shares this morning @.0085
I'm now sitting on 175k shares in case people doubt my position.
Unfortunately my money won't clear til Friday but I can add on Friday if it's stil cheap. If (what I think is) the last block being sold tomorrow, we should probably have the stock pickup by Friday but in case it doesn't, I'll be adding more as well.
150k here so it will be interesting to see how this stock plays out the rest of the week
So what is your opinion on the duration of this conversion and selling on to the market? Based on share amounts, do you think that the last conversion is tomorrow?
Additionally, it provides extra liquidity for if/when this stock does move up (IF there is a merger - let's not get ahead of ourselves. It's just speculation...I've been burned before).
The thing that will really propel this stock is the double whammy with a solid chart AND PR of the merger. If the MACD begins to cross, the chart may start to lose its luster a bit but I'm not too concerned with that. We have nice support at .0075 and our resistance level right now is .011 so we're trading in a tight window. Once the perfect storm hits and we break .011, this will go .02+ on the rumor and .05+ on the news.
Well if we assume this is money that the debt holder is receiving via stock sells, then my point still stands that there is only one more conversion day - tomorrow. The amount will be roughly $6150 (6161.50 to be exact) and once this final conversion occurs, the merger news can come at any time!
I think there's only one conversion left and here's why:
Onemessage provided the large block amounts and the share prices they were sold at (referenced last night/this morning in a bolded message). Those amounts added to $48,000 and the share block today amounted roughly as $5850.00. Thus, the final block has to be tomorrow and should sell for $6150 (roughly). If this is the case, the note is totally converted and the company has paid off its final debt before the R/M
So as long as the chart maintains its churn and the indicators don't fall off, I think we could potentially news at the end of the week of a merger. This would spark a firestorm over the weekend and we would probably see .05 trading Monday (at minimum). JMO.
That was a conversion of the note I think
This is the part of th eday where they dump shares at close to pay off the debt (or so we assume)
Looks like they converted another $5850 (roughly)
I wouldn't be concerned about dilution at this point. This company has alway sbeen forthcoming with information regarding shares and the only sort of shares we've seen selling are linked back to the convertible note (a la onemessage's research).
I think it's just MMs manipulating for quick flips based on this consolidation. We're churning on low volume so when volume spikes and buying pressure increases, this baby is going to blow up!
People should start slapping the ask into close - if some cash of mine clears, I will slap the ask as well!
MACD is drawing very close to the lower indicator - a signal that something is about to happen with this stock. Increased buying pressure will really shoot this thing skyward but a crossing of the MACD would mean sellers have control.
On the flip side, maybe that wouldn't be a bad thing because if the company is trying to convert debt to stock, that means more shares in the O/S. This would also mean higher liquidity for when this really takes off. So I see this as a win-win but this might be the last churning day before this stock moves up (or down).
Bid/Ask is tightening
Could mean a move soon or it could be that retailers are trying to induce action on the stock by tightening it up. Let's hope it's the first choice!
Well I put the order in right away to support the bid but someone initially sold 40k, then I picked up the last 20k as it dipped even further.
We could use some news soon or a green day in order to keep this chart uptrend intact.
Well I sucked up 60k shares @.0095 but it seems someone sold a huge amount of shares to take the price down. I'm still holding long and strong, though!