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The gap fill debate...here's my take:
The healthiest thing for a chart is to "fill the gap". In the case of MJTK, in order for the gap to fill, PPS would need to drop from .0077 to .0028. With volume of about 470 million and over $2 million traded in the last session, I doubt the gap will fill despite the percentage of times the gap does backfill.
More commonly, everyone has tracked a hot stock waiting to buy in after chart technicals cool off, yet the stock just keeps going higher and higher, and higher, defying the odds of normal technical chart behavior. All the while, we're kicking ourselves for not buying in.
In the above scenario, one misses their chance to buy in, just as one will likely miss their chance to buy in on MJTK waiting for the gap to fill. I can see MJTK defying the odds of normal technical chart behavior for days/weeks to come.
My .02 worth...
Go MJTK
Rec
The gap fill debate...here's my take:
The healthiest thing for a chart is to "fill the gap". In the case of MJTK, in order for the gap to fill, PPS would need to drop from .0077 to .0028. With volume of about 470 million and over $2 million traded in the last session, I doubt the gap will fill despite the percentage of times the gap does backfill.
More commonly, everyone has tracked a hot stock waiting to buy in after chart technicals cool off, yet the stock just keeps going higher and higher, and higher, defying the odds of normal technical chart behavior. All the while, we're kicking ourselves for not buying in.
In the above scenario, one misses their chance to buy in, just as one will likely miss their chance to buy in on MJTK waiting for the gap to fill. I can see MJTK defying the odds of normal technical chart behavior for days/weeks to come.
My .02 worth...
Go MJTK
Rec
More great points Sleek! There is certainly a lot more volume and money flow coming in to MJTK at this juncture, than MCOA initially had at the start.
MJTK's start speaks volumes to your influence and it's quite the testament!
And I'm happy you enjoy reading some of my posts. Thank you, it means a lot coming from you!
Evening,
Rec
Compare MCOA early days chart to current MJTK chart!
MCOA September 30 was the start. 3 days back to back, then 5 more weeks of defying the chart gods, pushing higher and higher.
MJTK in the last 2 trading days is forming the same pattern as MCOA did starting September 30.
MCOA chart
MJTK chart
I like the chances of MJTK making a move like MCOA, maybe stronger, because MJTK has a smaller O/S and Sleek has a proven track record now and more investors are piling into MJTK, likely holding with confidence.
Good luck to all,
Rec
"Follow the money" is right. Trading in the OTC is not all that difficult if you loosely follow this guideline.
EDXC has gone on a tear the last 3 weeks and there's no reason to believe it won't continue based on what we've seen and heard, not only with EDXC, but the sector at large.
Go EDXC
Rec
MJTK Tuesday action fun prediction.
Open: .0081
Close: .0149
High: .0154
Low: .0065
Volume: 190 million
Sorry in advance for the long post. I enjoy writing, what can I say, lol.
I don't see a gap fill back to .0028. Simply put, there was too much volume to drop back down to those levels any time soon. (Barring dilution).
I believe with the widespread attention MJTK is receiving over the long weekend that we can see another 100% move. Yes, even with a 40% move on Thursday, and 175% Friday.
I see an opening gap in the low .008's then some profit takers and a brief pullback by MM's to the .0065 range, then a gradual move into the penny range within the first few hours.
There may be some resistance at the .01 level, but once .01 breaks, often times there's movement in the .0105 range - .0119. If we break .0119 then it's off to .015 level in power hour and a close around .015.
Yes I believe it's possible because there seems to be general sentiment that MJTK will be a huge runner based on the already documented moves traders saw with Sleek's 2016 Salami picks and people won't want to miss out and sell at these lower levels.
Psychologically, these levels are still bargain bin prices when one considers the price levels of other well known all star MJ stocks. Experienced traders who've been in many of the MJ runners know the current price levels of MJTK are still "loading" levels, especially considering the volume to total issued and outstanding shares. This kind of touches on Sleek's new Investor Psychological Analysis (IPA), and I give MJTK a very high IPA score.
Some of the more popular chart technicals still have much more room to accommodate another 100%. RSI hasn't even hit the power zone. A/D line shows huge accumulation as traders piled in to start a position and those already holding weren't selling that much. Closed well above the 50 day moving average. MACD is just starting to move in a positive direction. For the technicals that are pushing the higher limits, just go back and look at MCOA. The outer limits were tested for days on end and defied the odds. MJTK can do the same.
Go MJTK
Rec
ps. I've never been spot on, lol. But in the spirit of having fun with predictions in the Wild Wild West of trading, this would be great to see a scenario like this play out for everyone :)
"EDXC"ellent chart here! For those who don't use charts in their daily analysis, you might want to google "cup and handle chart formation"!
EDXC has a very nice cup and handle formed. Up next? Blue sky territory when it breaks out.
There's been steady healthy volume as of late, and you know what they say about volume! Volume before price! When there's higher than normal volume, it shows lots of interest, and this volume is not toward the downside, but the upside.
So one can conclude that there may be something coming together behind the scenes and or investors are putting the pieces together and building positions to take advantage of upcoming catalysts that will push EDXC to higher ground.
I'm patiently waiting for more updates and speculating that our CEO, Todd Davis, is working hard to land a deal with a large brick and mortar retailer to carry/sell PhytoBites CBD chews.
Go EDXC
Rec
"EDXC"ellent chart here! For those who don't use charts in their daily analysis, you might want to google "cup and handle chart formation"!
EDXC has a very nice cup and handle formed. Up next? Blue sky territory when it breaks out.
There's been steady healthy volume as of late, and you know what they say about volume! Volume before price! When there's higher than normal volume, it shows lots of interest, and this volume is not toward the downside, but the upside.
So one can conclude that there may be something coming together behind the scenes and or investors are putting the pieces together and building positions to take advantage of upcoming catalysts that will push EDXC to higher ground.
I'm patiently waiting for more updates and speculating that our CEO, Todd Davis, is working hard to land a deal with a large brick and mortar retailer to carry/sell PhytoBites CBD chews.
Go EDXC
Rec
gwat1979, oops, it was late when I made that post and I must have reversed those numbers.
Sorry about that! Always good to verify. Simple mistake, thanks for pointing it out. But no need to be rude about it with your snide remark about trading 101...
Good luck,
Rec
Why MJTK is the perfect storm!!
- Dilution is done
- Sleek issued a recommendation
- followers piled in and bought
- traders entered on volume alerts
- existing shareholders added more
- January is historically a great month for MJ stocks
- sexy stock name with "mj" in the ticker symbol
- Sleek's other IPA parameters are on point here
- float lock in progress
A float lock is absolutely key in allowing this momentum to carry forward. And this is how it can play out in a float lock:
Investors will band together and hold their shares, locking up the float for the most part, and shares will be harder to buy at the bid. Buyers then have to pay the ask if they want in, which pushes the price higher. Basic law of supply and demand.
Larger smart holders/investors understand this phenomenon and will help push this higher with small buys here and there, even at higher prices, because it helps the value of their initial core position grow immensely, at a much more favorable gain ratio of core position to higher buy in levels!
This my friends, is the perfect storm!
MJTK!!
Rec
The share structure of a company breaks down like this:
A/S = authorized shares, or total number of shares a company is made up of.
O/S = issued and outstanding shares, or total number of shares the company has actually issued into the market or to employees, etc
Float = the total number of shares that are freely tradable. Often times insiders or "large investors" own restricted stock that can not be freely traded until the restriction is lifted. Float = O/S minus restricted shares.
For pink sheets like MJTK, one can find the share structure on otcmarkets.com
However, often this is out of date so one must contact the transfer agent (another company who "manages" or "distributes" the share structure for a company) to find the most current share structure.
Hope that helps.
Go MJTK!
Rec
MJTK analysis and why it can continue climbing:
MJTK: the perfect storm!!
Starting from a while back so people can understand why the price was higher several months ago, and why it was so depressed for a while.
A 20-1 reverse split happened last summer 2016. That means shareholders received 20 shares for every one share they owned.
Reverse splits are not necessarily favorable to shareholders, especially in the OTC arena because it also increases the authorized shares which allow a company to have more shares they can issue to raise capital.
With more shares being issued, theoretically it dilutes the value of a stock, thus when a company issues more shares, it's called dilution.
MJTK did indeed issue more shares to raise money after they did a reverse split last summer. Those shares were mainly issued in the months of Oct/Nov/Dec of 2016.
When the company issued these shares in exchange for cash, they were given to "toxic financiers".
These financiers gave cash to MJTK in exchange for a certain number of shares at a value much lower than where the current price per share was at the time of issuance (I believe they were issued at a value of .001). Then the financier sells those shares at whatever prices they can to recoup the cash they gave to MJTK. Since they were given shares at a par value of .001, they don't care where they sell it, as long as it's above .001, they make their money and then some.
As the financier sells, in the fashion I just described above, the price per share drops slowly over the period of time that they are selling.
So, that's why MJTK was so depressed for a period of time: dilution.
This is why reverse splits are not favorable to investors.
Fast forward to a few days ago, and this is where it's a thing of beauty!
The toxic financiers finished selling their shares, so downward pressure ended. A very popular poster named Sleek (whose prior record of recommendations are like a who's who of A Listers) recommended MJTK, and all of that poster's followers piled in with buying pressure to push the price up very easily. Volume alerts went off, experienced investors piled in to help fuel the move. Previous holders who were in, were also adding to their positions. It's January, which has historically been a great month for marijuana stocks. MJTK has strong "sex appeal" in its ticker symbol.
In short, it was the perfect storm. And potentially, this can keep going if a large number of investors hold their shares and lock up the float. (Float is the number of shares that can freely be traded).
When investors band together and hold their shares, locking up the float for the most part, shares are harder to buy at the bid. So buyers have to pay the ask if they want in, pushing the price higher. Basic law of supply and demand. Larger smart holders know this, and will help push this higher with small buys here and there, even at higher prices, because it helps the value of their large core position grow immensely!
In a perfect world, this could keep going higher and higher if everyone banded together and held their shares. But there's always people who will end up cashing out and taking their profits.
For me, I plan to hold with the expectation that a large amount of the float will be held tightly by experienced investors, and the price will continue moving up over the next few months. There will be ups and downs along the way, but up will be the general direction I expect to see, leading up to April 20, 2017.
Go MJTK!!
Rec
Investors who own more than 5% of a company stock are required to file a form with the SEC.
I believe the reason has to do with the fact that anyone with this large a position in a company can manipulate the stock with the sheer amount of shares owned, or is an insider with insider knowledge.
By filing as an "institutional" investor or company insider, there are rules one must follow before they can buy or sell more stock.
Probably because insiders could "load the boat", or "dump their position" in advance, based on insider information and that's not fair to the rest of the shareholders. So they must follow certain rules to make the markets fair. (Lol)
Institutional holders also must follow the same filing rules because they could use their large position to sway the markets one way or the other. So, they must also follow rules in order to make the markets fair. (Lol)
So basically, if one wants to fly under the radar, they're saying they don't want to have to file and be known publicly through those filings.
Rec
MJTK analysis and why it can continue climbing:
MJTK: the perfect storm!!
Starting from a while back so people can understand why the price was higher several months ago, and why it was depressed for a while.
A 20-1 reverse split happened last summer 2016. That means shareholders received 20 shares for every one share they owned.
Reverse splits are not necessarily favorable to shareholders, especially in the OTC arena because it also increases the authorized shares which allow a company to have more shares they can issue to raise capital.
With more shares being issued, theoretically it dilutes the value of a stock, thus when a company issues more shares, it's called dilution.
MJTK did indeed issue more shares to raise money after they did a reverse split last summer. Those shares were mainly issued in the months of Oct/Nov/Dec of 2016.
When the company issued these shares in exchange for cash, they were given to "toxic financiers".
These financiers gave cash to MJTK in exchange for a certain number of shares at a value much lower than where the current price per share was at the time of issuance (I believe they were issued at a value of .001). Then the financier sells those shares at whatever prices they can to recoup the cash they gave to MJTK. Since they were given shares at a par value of .001, they don't care where they sell it, as long as it's above .001, they make their money and then some.
As the financier sells, in the fashion I just described above, the price per share drops slowly over the period of time that they are selling.
So, that's why MJTK was so depressed for a period of time: dilution.
This is why reverse splits are not favorable to investors.
Fast forward to a few days ago, and this is where it's a thing of beauty!
The toxic financiers finished selling their shares, so downward pressure ended. A very popular poster named Sleek (whose prior record of recommendations are like a who's who of A Listers) recommended MJTK, and all of that poster's followers piled in with buying pressure to push the price up very easily. Volume alerts went off, experienced investors piled in to help fuel the move. Previous holders who were in, were also adding to their positions. It's January, which has historically been a great month for marijuana stocks. MJTK has strong "sex appeal" in its ticker symbol.
In short, it was the perfect storm. And potentially, this can keep going if a large number of investors hold their shares and lock up the float. (Float is the number of shares that can freely be traded).
When investors band together and hold their shares, locking up the float for the most part, shares are harder to buy at the bid. So buyers have to pay the ask if they want in, pushing the price higher. Basic law of supply and demand. Larger smart holders know this, and will help push this higher with small buys here and there, even at higher prices, because it helps the value of their large core position grow immensely!
In a perfect world, this could keep going higher and higher if everyone banded together and held their shares. But there's always people who will end up cashing out and taking their profits.
For me, I plan to hold with the expectation that a large amount of the float will be held tightly by experienced investors, and the price will continue moving up over the next few months. There will be ups and downs along the way, but up will be the general direction I expect to see, leading up to April 20, 2017.
Go MJTK!!
Rec
VATE is putting in higher lows and bids are slowly but surely upticking.
I can see this having a move similar to, or more powerful than A M M J
Less than 1/4 of the float here in VATE vs AMM*, which went above $2 from the range of where VATE is currently trading.
I feel it's only a matter of time before this one makes a power move to the upside!
Go VATE
Rec
That's a great point Neo! Non Ihub money is very likely involved here based on the lack of excitement on the boards here.
Another reason to your point, if you watch how this has traded over the last few weeks, this is smart trading/loading, that isn't typical of many ihub investors trading behavior, lol.
One thing is certain, EDXC has formed a new higher base that will help get us to the next leg, double digits :)
Have a great weekend and go EDXC!
Rec
269.84% gains in MJTK screenshot, so far.....
But far from over in my opinion.
I believe in the power of Sleek!
Entire float was traded in MJTK today!
What has made MJTK run like this? In no particular order:
1 - power of Sleek's recommendation
2 - sexy ticker symbol that falls under Sleek's new "IPA"
3 - timing of funding coming to an end
4 - built up demand for Sleek's new salami pick
5 - float lock in progress making it harder to buy shares, basic law of supply vs demand
6 - new year, fresh funds available for many
7 - promising business objectives stayed by company in the red hot marijuana sector
8 - past recommendations by Sleek and their stellar performance, now more than ever, investors want in on Sleek's recommendations
And many many more, the list can go on and on!
I plan to hold for many more percentage point gains!
Go MJTK and thank you Sleek!
Rec
Below is the screenshot. I do not believe it everyone's business to know exactly how many shares owned, and exact dollar amounts, thus the whited out portions, however it is my belief that unrealized gains like this should be shared in order to provide appreciation and validation to all those who are working to make MJTK a downright winner!
269.84% gains in MJTK screenshot, so far.....
But far from over in my opinion.
I believe in the power of Sleek!
Entire float was traded in MJTK today!
What has made MJTK run like this? In no particular order:
1 - power of Sleek's recommendation
2 - sexy ticker symbol that falls under Sleek's new "IPA"
3 - timing of funding coming to an end
4 - built up demand for Sleek's new salami pick
5 - float lock in progress making it harder to buy shares, basic law of supply vs demand
6 - new year, fresh funds available for many
7 - promising business objectives stayed by company in the red hot marijuana sector
8 - past recommendations by Sleek and their stellar performance, now more than ever, investors want in on Sleek's recommendations
And many many more, the list can go on and on!
I plan to hold for many more percentage point gains!
Go MJTK and thank you Sleek!
Rec
Below is the screenshot. I do not believe it everyone's business to know exactly how many shares owned, and exact dollar amounts, thus the whited out portions, however it is my belief that unrealized gains like this should be shared in order to provide appreciation and validation to all those who are working to make MJTK a downright winner!
EDXC has been amazing the last few weeks. Increasing volume with large ask slaps are very telling.
I've been somewhat absent in my support and posting here as it's been a very busy start to the year for me, but I fully support EDXC and it's just been easier to kick back and enjoy this killer move as of late!!
Go EDXC
Rec
I've watched the bid creep up slowly over the last month.
VATE is setting up nicely and I still expect to see tremendous returns, whether organically, or artificially supported via a group push from an alert or similar.
One thing is certain, VATE moves on air with the tiny float it has!
Go VATE
Rec
Thank you for bringing MJTK to the attention of the investment community at large.
I like the new sentiment barometer you've included in your analysis.
The ticker symbol is "sexy" and the company name falls in line with the emotional sentiment that one psychologically feels comfortable with when making an investment within this sector.
Looking forward to your overall analysis after the long weekend!
Respectfully,
Rec
Glad to hear MJTK is the first of the grand salami picks for 2017!
I became aware of the 2016 grand salami picks, but was late and missed out on most of them.
I'm happy to be holding a position in MJTK and look forward to seeing this investment grow, not only for myself, but everyone else you've helped have profitable returns via your recommendations and due diligence.
Go MJTK, and Sleek :)
Rec
It's great to see volume increasing as this tells me investors are becoming more aware of this little gem and building positions.
I'm patiently waiting for company updates. I remain bullish, and the chart indicators are decent too, with the exception of the A/D as someone got impatient and dumped a decent size to the bid yesterday.
I'm liking VATE more and more each day. Then again, I've never taken a position in a stock that I don't like, or don't see considerable upside in.
Go VATE!
Rec
Such a flirt :) but I'm looking forward to what's in store.
Respectfully,
Rec
Nice slaps at the ask! Can you say thin?
Go VATE
Rec
Someone got lucky with a bid fill!
Daily volume on the upswing again, which is bullish to me among other things here, like the float and sector VATE is in.
Go VATE
Rec
Imagine? Just look at the chart several weeks ago. Made a few hundred percent move with over a million in volume.
A float lock is playing out here in VATE.
Accumulate and hold. With so few shares available, this can see a move of epic proportions!
Go VATE
Rec
.08's today would be great! I love seeing MM's bidding in the .07's now!
Go EDXC
Rec
Solid pick up at the ask. Love to see if we can test that .06 level and what's up next from there. It's very thin!
Go VATE
Rec
All good porkypigg! GRNH is working to make many people a lot of wealth.
Be well,
Rec
Yep, there's a nice flag formation the chart. With a little help from the company (issue some updates), this is set up to make one hell of a move up!
Nice job slapping :)
Go VATE
Rec
But wait......there's more ??! EDXC having an awesome day for those who have held patiently. And this is the kind of move that will bring some well deserved attention to this company!!
Go EDXC
Rec
Bid jumping to get in on the cheap is tough, especially with any sizable bids.
Maybe some ask slaps to uptick the PPS would bring some onlookers, who in turn start their due diligence, then take a position.
Gotta start somewhere and a few ask slaps might get this thing started organically.
Go VATE
Rec
.07's on their way...kaboomage is here Neo, but wait...there's more, lol.
Go EDXC
Rec
That's great! Looks like NITE came to their senses and decided to break up that large order at .06, and hold some for much higher price levels.
Go VATE
Rec
It's been a long time coming. Based on volume and the news we just received, it looks to hold this time.
Love seeing bids in the .06's!
Go EDXC
Rec
I don't remember what the float was for GRN* when it went from VATE's current range to $1.20 in a few days time, but I'm almost certain the float for VATE is waaaay less!
I'll be waiting for it!
Go VATE
Rec
Best thing is, even a tiny investment in low floaters can see huge gains.
It only takes a few hundred dollars to initiate a small position with potential for thousands of dollars in return.
Great to see you here TyTrades :)
Go VATE
Rec
With VATE's microscopic float, we both know with volume, that low floaters respond in epic proportions.
Accumulate what you can, and or sit patiently on your current position.
Go VATE!
Rec