Scoping the charts
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I highly doubt this is APS pick, nothing matches the usual APS picks. You may want to think about an exit strategy and or reduce your playing money to reduce risk. Just a thought
Neither fit the APS bill
I would wait.. this isn't a normal APS play, something isn't right
This is an odd play.. already up over 100% and has a lot of past trading history.. just weird for an APS play
Once it slices through .008 with some strength then thats when the party begins IMO.
Even with today's red close Americanbulls still has ECDC as a clear hold http://americanbulls.com/StockPage.asp?CompanyTicker=ECDC&MarketTicker=OTC&TYP=S
Chart churning.. some bailed EOD but shares should rebound back to .008 levels soon IMHO.
Daily chart shows resistance at .008 and weekly has resistance at .0101, looking for a close above .008 in the days ahead to set up a move for .01+.
I think its mainly the 200MA.. sure there are flippers who can cause dips but if 200MA can be broken with some strength and put in a close or two above it then flippers won't make much of an impact.
Nahh.. this is what happens and is normal when 200MA resistance isn't held, shares retrace.
Its only the 200MA that is causing this
Must have been a market sell.. sells under the BID went through
ugly walkdown
To each their own.
200MA is being stubborn.. needs to see a clean break and more importantly a few closes above to ignite a move above .01 IMO
The big ask blocks are intentional.. its meant to scare people into selling bid side but more than likely same seller on the ask is bid sitting to scoop up the shares he / she is shaking loose.
Looks like its shaking out some people here.. could be what it needs in order to move higher.
Chart a little too hot for 200MA break IMHO. I'd look for a pullback, some consolidating to reset some technicals and then a solid move to test or break 200MA resistance.
I'll admit I was definitely wrong.. nice analysis and chart read
Could be. Never know in the pennies. Remember the sponge company? Longs on that board kept saying it was 100% real and that turned out to be a giant scam that cost longs their entire investments.
It could very well be. But I think the ICPA buzz is overdone and overhyped, the upside potential has been created by a lot of koolaid serving. That of course is just my opinion but we will see.
Can't put a time stamp on it. But I can say soon. Shares tested 10MA a few times last two days before eventually falling below, now shares have tested 20MA @ .0046. So far its held, but when you combine an increasing DI- to a decreasing DI+, a peaked out MACD turning negative and a faded RSI the set up is bearish.
I'd expect a few more tests of the 20MA and an eventual breakdown to open the door for a test of the 50MA
99.9% of pennies are in no way long stocks. If you go long, you will lose.
When this is sitting much lower.. then maybe I can get a thank you? :)
Neither. Peeps can make their own decisions. I could care less what anyone does. If I'm bearish on a stock then I'm not going to keep serving koolaid, not my style.
This is on the verge of a deep pullback.
Almost everything you said proves my point...
Could be a massacre, no joke. I've seen it a few times in other stocks. Risk outweighs the reward
As much as I like Koolaid its not the time for it here. Not now at least.
I dont mindlessly serve koolaid when I see bearish signs in a stock. Not my style.
15 and 60 minute timeframes are only good to use for day trading or flip opportunities. Daily chart is better for overall picture, and that is increasingly getting bearish. The last two candlesticks formed a bearish engulfing pattern which is a indication of reversal in trend (bullish to bearish).
Should retrace more, below .03.
Based on the charts today? Any chartist will tell you that the chart right now is bearish not bullish.
Nope gonna go lower
Nahh.. just retail
Looks like the third party was too aggressive here.. wrecked what could have been a nice run.
Its not always shorters and MM's. This is just plain selling by traders and groups.
Lower lows and lower highs each day after the big spike. Day following the big spike, huge red candle usually the exhaustion candle. Yesterday, black spinning top formed, pre cursor to a sell signal. 10MA broke on the daily and 20MA was fully back tested.
DI- on the rise while DI+ is falling, indicates big sell pressure. MACD peaked and RSI falling, indicates loss of momentum.
No news to reverse the bearish trend and most are bailing.
Its not going to bust wide open.. will have minor bounces but overall will continue to bleed out and go lower
small bounce from its 20MA at .0046, once bounce players cash out headed lower