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Yup...That trend from 60 finally broke today and filled last Gap. My guess is we back test the old breakout wedge, cloud, and probably even 50 day again...and probably tmrw. I do think we hold. And I do hope I'm wrong, just a prediction.
But as you can see 50 still pretty far below 200....Just a stock in bear territory trying to get back to good...Takes time.
Will update after the fall....Wedge broke, knew we were at a decision point
Pretty Strong that she fought back to hold the May 16 Gap Level. Can see we bounced hard off the BIG GAP from Dec level of 75. Little confusing as we still have a 74-75 Gap still open; thought for sure they would go after that this am. Assuming will be closed at some point, but today was strong RSI still > 70 in Breakout Mode / RSI MUSCLE
Yup good observation. Maybe we get one of those typical volatile first 10 minutes of trading on Monday or Tuesday and it fills the gap while bouncing off that support line I have drawn
Thanks David and Flip. Here is last one for some Friday Night Charting Fun lol. Hourly View:
Can see we bounced right where Sojo predicted making a Double Bottom at 60 cents that coincides with the May 16 Gap Down Low. Speaking of May 16, can see we are trying to hold onto that 78 level from same day. We have steadily been making progress since Aug 16 low. Got the Hourly Golden Cross. I circled ROC indicator closed right at this RIP support line. I think she has to breath some and consolidate / Flag to work off overbought and extended Indicators(btw that all that the Flag is doing...Price will not outrun Moving Averages. Needs to breath before next leg); But that ROC trend line looks like she wants more....We shall see
Anybody with basic technical analysis understanding can see exactly how to chart this stock. I don’t mind helping people if they have questions like I gave Flipper some analysis, and you can also see detailed analysis from my previous post.
Would still pop but eventually will have to flag. Prices don’t outrun moving averages, and that’s what happened in early May we were close to 80% higher than the moving averages lol so the law that averages we ran before the news.
An in control linear move within arms length of moving averages is much more sustainable and preferable. Trust me I won’t complain if we wake up one day and like everybody has been telling me for two years the charts won’t matter when the news does hit, I’m ready for that to happen lol
Nope, we still have some work to do. As Predicted(still patting self on back), we had to go down and around the monster Resistance Cloud, and we immediately broke through once the Cloud got thin.
Good News still in Break Out Mode as RSI > 70 and Closed outside Bollinger Band; and also above the May 16 Gap Level 78 cents.
Bad News as you noted still have lots of work to for 50(69 cents) to get back > 200(79). Also we got rejected at 200 MA today, and closed with Black Topping Candle.
I'm thinking / hoping we Flag and any backtest holds our Steep Support Line that started Aug 16 at 60 cents.
Hope this explanation helps some for those curious what all this crap means that I posted in Picture lol.
What the heck! We are not friends? TA guys got to stick together; especially on the Down Days the Mob comes at us Hard!!! lol
Nice action on the Daily. Broke out of wedge yesterday, and now testing the May 16 Gap Down level. Also resistance on the 100 & 200 Daily. 2nd close in a row > Cloud! Yeehaw Told ya folks we would go down and around that Monster Resistance Cloud and Break through Cloud at much thinner easier access point to her rear.....just sayin.
We be jammin ever since RSI broke out of Wedge; RSI is now in Overbought Terrirotiry, that happened quickly. Hopefully we stay Overbought for a while. But I suspect we back test the Cloud and the Wedge Support Line(Fill today's Gap).
Daily All coming together now. This is the Linear View, and you can see Clear Breakout of another Wedge...AND closed > Daily Cloud. Everyone got their panties in a wad when I told everyone we had to work our way down and around the MONSTER Resistance Cloud, but should cross at the much more thin easier are to get above.
These 4 Indicators I listed are really clean trades going back 10 months. RSI on a very STEEP Support Line after breakout of 10 month Wedge; see how long we can ride it up. Long Term Macd below. Clear as day with lines crossing which direction we move. Same with the ROC at top along with the EMA > or < so the price goes.
Trend is your Friend until it's not
Daily Wedge should have resolution this week; probably tmrw. Don't like all these rejections of breakout to close back inside wedge; typically bearish action....but have a nice steep support line working for us since 60 hit. You can actually draw the bottom wedge and connect with bottom of May 10 candle wick. 13/34 EMA has crossed. Let's see if we can stay in the cloud or even try to work our way through; but don't think she's ready yet.
I did tell everyone though that no way we were breaking through that monster cloud, and we were going to have to work our way down and around it. I know TA doesn't work, I guess I got lucky :p
Can any of us local Tampa folks attend?
Of course, hope everyone has a nice 3 day wknd; and we have an even better week next week!!
I know we are only 2 days into Sept, but the updated Monthly chart with Sept candle def has some Eye Opening Indicator Action!
First of all, the Candle is currently Sandwiched between Wedge Resistance from 2 years ago & the Support Line also from 2 years ago.
RSI Support Line goes back loooong time and holding.
MACD 5,14,5 crossing up; only a couple direction changes going back years.
MACD Histo 12,26,9 and using the 20 EMA. Fun trick of mine; can see Histo is now moving insde the 20 EMA. You can see how price action has acted when we were > or < EMA. Goody goody!
Let's break this 2 Year Wedge! btw, the 200 Monthly MA is sitting @ $10....just sayin as the kids say.
Feeling good Louis!
OK Hank here are a couple notes…. I really don’t wanna get in too long explanations, I guarantee you half the guys on here are already annoyed with my posts so the last thing I want to see is more for me lol
OK, you know what a wedge is? Over two year span the price action has formed a wedge with support and resistance and it appears we have broken out of the Apex. Typically this means a strong move is coming, and a two-year wedge is poised for a large move. I have a couple sayings, the longer the base, the higher the space.
200 MA is the 200 moving average. And again if you don’t know what the 50 and 200 moving averages are then honestly I can just suggest you take a look at some basic technical analysis, because that’s day one page 1
The indicators or what I have shown above and below the price action. I think you know what the term divergence mean. So with stocks if price is going down or moving sideways, but the indicators are actually moving higher making higher lows as you can see from the trend lines that I have drawn that is considered bullish divergence And typically means there is bullishness building for the underlying stock. A lot of people only focus on price, I am a big trader on focusing on what are the indicators doing they will tell you where the ball is going almost like you watch the pulling guards in football to see where the running back is going don’t watch all fakes…same with indicators
There you go….
LOL I get what you’re saying but I’m assuming some folks know the basics of technical analysis, will ask questions, or just ignore it. Half of what you quoted for me is very basic and remedial.
I mean I can explain a couple things, but I really don’t think the board wants me to get on here and give a dissertation or definitions on technical analysis.
Yeah it sure does appear things continue to set up slowly but surely. We keep gaining important levels. We will continue to back test all resistance and now I think I support. To say the obvious it is very important that we continue to hold the support levels that once more resistance as we work our way up
Hank, appreciate the feedback. I typically do write a note or two, but I don’t mind adding a little bit more analysis
Weekly Wedge Breakout and 200 MA taken back. Some very nice Bullish Divergence on many Indicators showing underlying strength: 3 Higher Lows with RSI & TSI(Black Line crossed above Red Line) on Support Trend Line. PMO Coiled to max and Black Line held ~ STRONG. Long Term MACD Histo moving on up inside 20 EMA. Look at history when we are on the right side and wrong side of the EMA!
Hourly closed on RSI Support. See if she holds or rolls over from here. I figured we would have a pull back or move sideways ~ we were waaay above the 50/200 MA on Hourly and just crossed. Prices DO NOT outrun their Moving Averages, unless get some big news..etc.
You can also see how Expanded the Long Term MACD is (Top Indicator). Still in Bullish territory, but just got ahead of itself. Coil is good, very expanded you get days like today...all over the place and working off the Extended Moving Averages and Overbought conditions.
There are some very coiled Indicators on the daily and weekly….wouldn’t surprise me at all to see big move soon….maybe a quick backtest of 68 early in week - but this looks prime
All good bruh, but still doubt we get over 68 tmrw lol….I HOPE IM WRONG! But def next week we good
We have been F around with 68 for 9 months. It has been a key level since the Dec Gap. Also level we worked up juice for the April run. I think we get over, but could take some time and little more build up / flagging. Hope I'm wrong and we close at 80. The RSI Wedge Break is very promising.
And no lol, I did not short. Some people on here hate when you try to have a level heading view vs GO STRAIGHT UP!!! Don't understand how TA works.