Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
There will be no chasing. When you learn how to read a chart, and recognize the signals, you will be a better trader.
Volume is meaningless at this point. You're hanging on to the 50 day by a thread, which is the only reason you haven't dumped yet. Has already signaled it wants much lower. And it's coming VERY shortly. Could be today.
Don't need to follow it to know how to trade it. Chart is falling apart, and news is irrelevant to me once the drop begins. News will wait.
Seems I'm right so far, huh?
"... a lot harder when your stupid."
You're.
The irony.
Mike, I like many of your picks, but this one is a chart fail in progress. We are going back to the recent 23 lows, at the very least. And more likely to head to 16s once there.
This is an optimal time to flip. I know that's not your thing though.
Waiting for lows on this one. News unlikely to come before that happens.
The only thing that has slowed this fall AT ALL, are the lows formed by the dip on 9/12. A minimal amount of price support about to be overtaken by descending resistance from above.
This would be your moment to flip, if you were so inclined. It bought you time until the next drop to the level below.
Waiting for the 13-14 range, before considering any move here.
Is that right?
Well you go get 'em, Tiger.
Not touching this right now.
Weak close Friday, and downtrend very much continues. Strader seems to be the only one who sees what I see. Tremendous resistance now, and descending daily from overhead.
Starting to look like like every other failed LOI out there.
Not a chance, Underdog. The rest of the fall today is already locked in. The real descent will begin after 1pm.
It did not bottom yesterday. Never said that.
Still plenty to go.
GL
Hitting 14s shortly. Buckle up.
Whether that 10M bid is real or not, does not matter. This is a mess today. Going lower.
Ignore the 'thin ask'. It is NEVER as thin as you think. MMs have UNLIMITED 10k blocks to toy with you.
You do that. No one was laughing yesterday. Or wait! Yes they were, early in the day, until the rest of what I said played out.
Save yourself the embarrassment of those saying the same things yesterday.
You will be green for no more than 2 hours. If that. The slide will continue shortly. Tons of resistance just above, while still trending down.
Whelp GD, I don't dispute that. Watching for the perfect re-entry regardless. Won't buy before, based on coming news. I'm confident we will at least bottom first. Might come today.
Ace, there may be interest, but it's on the bid-sitting side of things. Take that for what you will. Big volume dumped into the bid. Not really what I'm looking for. Looking to reach the bottom, then a turn of the money flow to the positive side. Today will not be that day.
Net result yesterday may not have looked like anything was happening, but the slide is still in progress here. It'll be a day by day trickle downward.
This one still has a bit more to go. Just write off this week if you're looking for green. Next week may bring the turn off the bottom.
Thanks Chips. You might be in the minority though.
Hope you're cool with that. :)
I don't guess.
That is lame. I have no such power. Things happen the way I say because the technicals say it is so. Take some responsibility here.
It has not. Will be watching today if that changes, but wouldn't expect any real change until after the weekend, news aside.
J, this move is not done. The trend downward continues for the time being. You might get a little bounce along the way, but it won't be much, and it'll be short-lived.
There is no noticeable support until the 2's. It'll be a slow drip for a few more days anyway. Wouldn't expect anything to the upside this week.
GL
Whatever it is that's going on, and whoever caused the drop, it still reached a predictable level on that slide. And today is very unlikely to bring any sustainable bounce. The trend is still down.
The 32's are very unlikely to hold, as I mentioned yesterday. And all that's propping it up from there is a 50 Day on the Daily (200DMA on the 2hr). With this kind of downward momentum, I doubt even that holds. Maybe for a hot minute, but that's it.
All intraday indicators have money leaving, so without something big to turn this around, it won't. Yet.
Below that, nothing but air until .0014, then trips.
Plan accordingly.
Personally, I don't even think the 32's will hold. This will not be going green anytime soon.
Geez! Who knew? Where's your DD to save you now?
All predictable to those that get this stuff.
For one, your DD will unfold over time. MA's have an immediate impact. That's not even subjective. It just is.
Second, Oh I dare you to go peddle that theory over at the PCT* board. Failed 8k, and failed merger yesterday. All the DD in the world didn't save it from a fall from .04 to half a cent. But technicals ruled the way the whole way down.
Big merger was coming! Flippers are dumb! Yada yada...
When you get good at this, you let me know.
It's not about the '2 ticks'. It's about a confirmed position below some very important support, now turning into resistance. You cannot afford that fail right now, if you are to move up in the short term.
Next stop will be 32's in the days to come if you don't get your 'big news'. After that, well... you know.
Now 44 Bid / 45 Ask. Opening down, and going.. downer(?)
Not 'fishing' for cheap shares. Just calling the chart and movement as it is.
Learn, or hit your 'iggy' button. Makes no difference to me. Those of you in the dark, will apparently stay there.
Always be open to what you don't know or understand.
Doesn't matter. The 46 being up before the larger adjusted Ask on 48 was already shown in a 10k block, which are also their tell. So even if it pops to the new Ask, the Bid still sits at 44. Any touching of that today is well below your trend line, and a failed trend. At any point today. And they intend to get there.
None of that matters in your volumes of DD, when the here and now shows an immediate short term drop. Maybe later with all that. Calling for a breakout today is wholly unwarranted.
The open will be down from that 47 regardless, and then the matter is settled. It will drop further with all current support lost.
Here is one more clue to where we're going this morning, and I've learned to ALWAYS pay attention to it, as it comes to fruition more often than not.
Although there is no pre-market, MMs will begin signalling their intentions for the day on the Bid/Ask once we get close to open. Once we get 'realistic' numbers on the Bid/Ask, as we do right now.
People will go nuts on the board saying its BS, it's this, it's that. Been watching this for quite some time. Would not ignore this signal. It's one of many MMs give to each other, if retail is willing to pay attention.
So this morning has a 44 bid, and 46 ask. They absolutely intend to bring it to 44 ASAP today. And with an opening ask of 46, the walk down begins. They plan to take this lower. No need to fight it, people. :)
This should settle the debate as soon as we open.
News is unlikely to come in this weakened state. I know many hate to hear that, but it's typically the case. We also have money leaving, with quickly weakening Money Flow and Accumulation indicators. If big news were coming now, you would not see that. Those on the inside would be your tell. This stuff would be ramping now. It isn't.
And the reason for so much chart talk, is it is the difference of a continued trend upward or downward in that last minute before and after trading hours ended yesterday. Nothing to do but wait, but it's Pass/Fail at the open. That's important if you're to get your plan in order for the day.
Just been through this yesterday, people. Hanging your hat on an 8k to save you is not a strategy. It can go VERY POORLY, actually. The technical situation with this stock is weak right now, and weakening still. That is what one should consider now. Hold and ride it out, or get ready to bail, and flip, as you will.
Nothing wrong with grabbing more shares on the cheap, once it strengthens again.
Strader, you and Trader Guy are looking at this very much the same way I am. We're pretty much in-synch with what this chart shows. And it's funny, because I was looking at the strangeness of the close also, and compared it with, and without after hours. I use the Think or Swim platform.
If you leave After Hours OUT of the picture, it posts a 44 close, and a clear fail of the lower trend line. If you INCLUDE AH, it shows a very... 'convenient' snap back into the formation at 47.
I think you hit it on the head, when you said it makes the chart look intact at the end with that 47.
I have to go with the 44 close. And if you flip to your 2hr, and incorporate a 5 Day MA, as I do, it is a done deal. CDIX needed to close ABOVE that 5 Day, before it reached the lower trend line, otherwise it pulls you lower. And first thing in the morning, when that 5 Day adjusts, it's dropping further, pulling the stock with it, as we are still below it. Only being above it, will save you from that.
But to look at the 47 close, it's position seems safe. For now.
We'll find out shortly.
Already is below it, if you drew it accurately. For a closer look, bring up your hourly or two hour. You are also now trapped below the 5 day MA on one of those, which will tick lower at the open, pulling you further down. But you tested below the trend line all day, and closed below it end of day. Nowhere to go but down. For now.
Not sure why the LOL. This is an easy one to read. If you're good with a nice dip to load, then all is good. If you think we pop from here, you will be sadly mistaken.
This is where those who don't believe in charts on the OTC will see just what I mean.
You just broke below a critical level. It's been testing all day, failed at the end. We pick up where we left off. Trend is now down, despite your SS facts.
All that may be true, but on the flipside, it almost assures we go to 2's now. Tomorrow is set for further decline.
That was not a good close. This is set for a pretty nasty decline tomorrow.
It's one thing to have a vague acceptance of it going lower based on weak bid support and volume. It's another to pinpoint the moment, the signal, that clues you in before the rest of retail. You spot that, and you still have time. Other players who have recognized it, are getting out for the best price they can. So you still get those spikes. But to to wait for total confirmation of a slide? Things will move too fast to get out, if that was your hope.
I was in it. I liked it. Signal hits, I'm out, and waiting for the next level of support, along with a couple more signals that it's turning off the bottom.
Oh I wouldn't count on that. The fail is already happening in slo mo. Gonna let this one fall as far as it wants from here.