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Edxc is way oversold. Were getting into bounce territory.
Hopefully this volume spike attracts buyers. What we've gained in volume is being offset by lack of aggression from bidders.
Agreed. Whether you like EDXC or not, one must agree that there are many other bloated pigs in this sector that have far greater/disproportionate market caps with far less tangibles.
We're seeing the transition in bid pattern I mentioned earlier. Looking great, volumes right, a little aggression on the bid would move it. I think its found its bottom.
Liquidated some positions so I could get back on the bid. It's a gift that there are some .07-.08s left.
jjjohnnyq - Relying (strictly) on a technical indicator for a pink sheet stock is doomed to fail. Most (good) technical indicators are based off of hypotheses which are relatively consistent with a liquid and efficient market. We always assume there is no free-lunch (no arbitrage). However, in the seedy side of the market lies the OTC stocks and countless instances of manipulation (as we have seen with EDXC and the MMs), illiquidity, and violent price swings due to shifting sentiment rather than a tangible change in fundamentals. If anything, the confirmation of technical analytic techniques can be rather synthetic in that their very confirmation is due to traders "respecting" a particular price level for instance. Anyway, technicals are always great to look at and may be able to tell you something, but always be aware of the many reasons these indicators can fail, especially on the OTC.
megatron - Yes, as pointed out above, such sentiments often have a greater affect than any technical could demonstrate.
There's been a shift in the bidding pattern though, we've consistently have had more people on the bid and less/smaller walls. It's a matter of time.
This analysis is from April 9th 2014, heading towards 4 months ago.
Think we'll see a nice move today. Been churning through the lower levels and confirmed the double bottom at .075.
Might give us that boost of volume we need to push towards new highs. Seems like every small step is in the right direction. EDXC
Do explain, where do you get your price targets?
Easy does it guys.. lol. Thanks for the L2, I really need to get them for the OTC. And it's thin both ways, I'm not sure what to make of it right now but some buying pressure would certainly make this thing move.
Big bid on at .076
Clearly we've established the double bottom pattern, let's look for a nice bounce. The ask should be clearing up and buyers will need to move their bids up to get filled. EDXC
Way oversold here.. Get 'em while they're cheap! EDXC
Seriously... who the hell are these people trading this thing and what is their reasoning?
I don't think our performance in the long run is dependent on FITX. However, if they actually produce any stream of revenue then its a positive. I agree that their share structure/ect. isn't ideal, but I'll take any news that might push us forward.
Just need to break the low .09s and we should see some momentum.
How are the L2s looking?
It's the next step in transparency and legitimization. EDXC is likely pursing an uplisting and this along with the outside auditing firm should facilitate the process.
Let's see some green today guys - we're undervalued right now and people know it.
Nice buy! At .085 you should have lots of room to grow. EDXC
Once we get over .09 we look pretty smooth.
We need bidders to step up and close the spread.
Our critical resistance is mid 11s. If we can break through that I think we can see the mid teens. You're right, whole sector is in a slump and hopefully if other companies make good gains then we'll follow suit.
So you don't take it that the bears will be covering soon?
According to the OTC website, there is very little short interest in EDXC.
It appears that we're finally getting a little overhead space.
As frustrating as this is, I think that the main reason for our low PPS is overall manipulation by either MMs or retail traders. The reason I say this is because there are other companies in the sector with far higher PPSs and less to show for. I think we have seen the bulk of the selling. I don't think we'll see new all time highs any time soon but this thing should easily be in the low-mid teens. If we can get through those walls in the .08-.09 range then we shouldn't see too much resistance until .11ish (in my opinion). I also think the day traders/flippers could have been taking profits after a 2/3 week swing trade from when shares in the .07-.08 range sold. Keep an eye for some reversion towards the higher price levels - mainly because yesterday and today's downtrend seemed rather synthetic. EDXC
I see, ever liked Corvettes very much lol.
Finally a little action today. We need momentum to break through these clowns. Someone needs to learn how to exit a position gracefully.
That's an excellent point and was pointed out earlier by someone else - this industry will be enormous as more and more states legalize. There is plenty of room for many of the legitimate marijuana companies to establish lucrative positions. We must keep in mind that these companies do not exist in some mutually exclusive vacuum in which they will be the one and only marijuana company that does xyz. Their success is largely connected. If legitimate weed plays prosper, the legitimate ones that are lagging are more likely to follow. Sector health is as important as individual performance, even in these infant stages.
Starting to see more pressure on the bid. Hopefully some green tomorrow. EDXC
Thanks guys! Looking relatively thin after ETRF.
How are the L2s looking?
Was that directed towards me? If so, watch your tone. I am always respectful on these message boards and I suggest you raise yourselves to that standard. Here's some evidence, this site is typically accurate in finding pump and dumps. http://www.pumpsanddumps.com/ You'll find HEMP listed today. I said I'm fairly certain, not completely. But instead of asking for a reference I suppose name calling is better.
I'm fairly certain HEMP is a pump and dump.
Agreed. For any stock to make stable gains, there needs to be consolidation and churning through price levels. Not spikes due to flimsy PRs and false promises. We will see revenue and what we are seeing right now is an attempt to hold this back longer for accumulation. Hold in there guys and reap the benefits. EDXC