Status: Alive a/o September 2020
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Here are the numbers I posted at the other place yesterday evening.
These points should serve as support/resistance throughout the day.
.2025 R3
.1862 R2
.177 52 Week, YTD, & Month High
.169 High Close
.1576 R1
.1413 Pivot Point
.1365 610 DMA
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>$0.129 << Previous Close
.125 50% retracement
.1127 S1
.105 Previous S/R
.1000 377 DMA
.0964 S2
.089 233 DMA
.0678 S3
Thanks. I hope everyone has a nice weekend contemplating the future here.
It's support now. We could consolidate or bounce. We needed that second touch though. Because it held, it confirms the move is secular unlike the previous spike.
Another week and LQMT is up 23.4%. Not bad!
These are the next resistance levels I see.
I see $0.1955
$0.2194
$0.2571
and, of course, $0.283.
Yes, the Chinese invented charting. I think it was first used to predict fish pricing and is ingrained in their commodities markets still today. If I remember correctly, candlesticks were used first and then P&F charts developed for longer term trends. Watts can correct me if I am wrong on this.
TA merely notes buying and selling patterns and predicts the odds of different outcomes. The best analogy is that of the weatherman who notes high pressure movements and low pressure movements and prevailing winds and then gives the most likely outcomes.
Nowadays, weather services are much more accurate and use satellites and dropsonds and all sorts of equipment.
However, traders are now using satellites to look at retail stores' parking lots and the raw materials from their suppliers' suppliers. Quant funds have even been known to trade in such a manner as to mimic chart patterns just to fake out day traders on highly liquid stocks.
SO charting only notes the probability of results by comparing observed conditions and comparing it against past behavior patterns. Since we are human and somewhat governed by human emotion, this can have appear to have an uncanny effect that appears to be voodoo. It is not. It is merely a collective of knowledge that says "I have seen this before and 30% of the time we get X, 20% ..Y, 50%..Z.
Sometimes it fails miserably.
Unlike what IATECLUBE said, no chartist takes credit for the move. That would just be stupid and it is an ignorant claim that I would compare to blaming the weatherman for the weather.
______________________________________________________________________________
I can not comment on the current chart because, although I expected a very bullish push, I never expected THIS! Glad that I am, my charts are a wreck and it will take some time to get some perspective. No one can chart this right now (Well, not me!), there has only been a hint at basing and consolidation only to ripped by another move upside. I need to construct a volume by price and a VWAP chart to see where ownership is now - and I need to look at everything six ways to Sunday.
Sorry this is so long, I am quite drunk.
No idea right now. Will have to work on it and I don't know if I can get to it right away. Looks like I may have to do some storm prep!
Will try if I get some free time.
This article puts a bit of wind into the sails of your theory.
https://in.reuters.com/article/us-china-market-trading/millions-of-chinese-investors-rushed-into-julys-stock-market-rally-idINKCN25G04R?il=0
What sixty cent prediction?
OMG It was hot in the gardens today and I was working in a shipping container. It must have been 120 degrees.
Am I hallucinating? 60 cent prediction?
I do volunteer work on Thursdays at a botanical garden so I will be away tomorrow. GLTA.
Paraclete, Thanks! DMN, LOL! Clubeater, welcome to the ig club. Party of one.
I don't think you understand.
I'll put it this way, we are up over 16% today & 67.4% over the last 11 trading days.
I usually just grab my buddy & a bottle of rum and go to the guest house and put the game on. My wife will wait an hour and then pretend to look for me. She understands.
My guess is that we consolidate in a range but who knows? This thing is on fire.
Nice. A 2 cent day.
I'm amazed right now.
Even if we pull back, this bull will define the upper ranges of subsequent consolidation.
Was not expecting this move today at all. Must say I am surprised by your tone and sentiment but I am always happy for an opportunity to make plowshares.
I am unsure what you mean by "post it to the LQMT web site". Which site?
$0.1367 currently
Long term: A consolidation above the 610 DMA would mark the end of the LQMT bear. I wrote about it in the other place.
Keep an eye on the 610 day moving average.
Target reached.
Now we see if we pause.
ThinkorSwim (TDAmeritrade's platform) is down so no charts today.
Yeah. I figure I'm good for another million or so on this one.
No kids so it will just be fun money.
I made a good amount on LQMT back in 2004 and never traded it again until I started buying in 2017 and I haven't sold a share since - still buying.
I'm about $70k in the hole. I think my break even is just under 18 cents.
LMAO. Here's mine. I sold Lowe's (LOW) at $35; it's $158 now.
I used to trade NVAX. I doubled my money and tripled twice. When the pandemic started, I decided to not trade it because I felt like it was too much to do it again. It's up 1000%.
Edit: NVAX is up over 3000%
$0.1206
That is the target.
I expect consolidation there.
That's absurd.
Anyone who has their money in this game is as entitled to their opinion as anyone else. There is no special status bestowed for being a long term investor.
$0.1206
I have no idea would even hazard a guess.
I wouldn't dare to make that call. That's more of a judgement call.
I prefer to stock to known patterns with documented performance.
BTW, the 200 day moving average now has an upward slope.
The 22 days is already up!
So the CUP and Handle that KanadienEh noticed is a reliable and powerful pattern.
Our new target is $0.1206
Chart is here: stocktwits.com/r/LQMT_STOCK/
Hell yes it does!
I missed it - there it is right in front of me and I missed it.
I will rework targets later tonight.