is ... YES - Another Profitable Day!
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On my chart I see the stochastics rising slowing as the price has been declining slowly. In my experience that generally means accumulation so, I would expect the price to support and continue moving up here. I don't have a clear buy signals but in cases like this in the past, it did not seem to matter. Just a thought! Anyway, I'm long. The down side is limited and the upside could become explosive so, the odds are I'll walk a way with a profit here.
ORRV on TV???? - Well, why not? I'm suggesting that ORRV look into finding a joint venture with a TV production company that will film a whole series on the findings in the Tradewinds Project. That makes sense to me. I doubt if they have even considered it but, to me it's a no brainer. Get on TV with a series for the entire salvage operation and do it like a reality show. Everyone who is worried about the economy will couch potato out and watch that series and tell all their friends about all the loot and who knows, maybe a few folks with money will buy some stock along the way too. The income from the show will certainly supplement what they get for the find and if they do it right, and make it entertaining, it will be shown on TV year after year and they might be able to retire on the income from that alone. Will they try to do it? Maybe not but, I think all you share holder types should suggest it to them on Facebook and see if we can get something positive started here.
It's way too early to call the destiny of this stock. If the diamond top on this chart should become an island top (doubtful but, possible) you could see a retracement of the price all the way beck to $0.0005. Doubtful, but, anything is possible. There are no real solid fundamentals (that I have been able to find) that can sustain a price rise right now. The best thing that could happen to this stock in my opinion would be for them to make a huge sale. As harvest time approaches this year, you might see some sales and that could start a rally that would continue rising up to and over the $1.00 mark but, there has to be sales and eventually profits. Simply applying for a patent (haven't got it yet), having potential customers display acceptance of the product (anyone buy one?), and appointing a sales team, is no reason to open the Dom Perignon! Then need to sell some equipment and then they need to show they can manage their money so that eventually they will turn a profit and until that happens, this stock is subject to going up and down on any propaganda that the company feeds you but, that will not sustain a rally for very long without sales. I'll let you know if I see an end to this price drop and decide to take a position. But, right now, I see many more exciting opportunities to buy into.
It's not a rule! It's a law of Physics. What goes up must come down and in stocks it also works the other way around too. You can look at any chart you want to look at and there will be some point where a stock no matter what trend it is in will reverse that trend for a time before the major trend continues once again. Even a major trend will reverse itself, if you follow it long enough. Any major tend can reverse and become the opposite major trend. There are no exceptions to this.
I've been watching this stock tumble since it last hit $2.00. The chart looks interesting right now but, there is no buy signal yet so, I would be inclined to wait a little longer before jumping in.
I'm not so sure. I'm out of it at them moment because the charts are not giving a clear indication of which direction the stock will head. Today's 8-K report showing share dilution is NOT a healthy sign to keep the price heading up. I would guess that if it heads for $3.00 now it will only serve to fill the gap on the chart there and will then sell of to perhaps $2.00 before it finds firm footing and we see accumulation again on the charts. Personally, I'd rather see it go to $2.00 first, and then fill the gap.
When a market is oversold (or overbought) it has noting to do with the number of shares, it has to do more with how far from the 200 day moving average the current price has moved. Typically an oscillator type indicator is used to determine the state of overbought and oversold. All stocks move in waves, just like radio waves and there is a limit as to how far the price can go up (or down) before a correction in the price is required to bring it back in to perspective. The current state of TYTN is recently overbought (on it's way back to being oversold) and the market indicators confirm that. So when that happens a lot of traders will take profits knowing that the price is due to go back down. When the market becomes oversold, they will buy back into the market for the next move up. A market can stay in an the overbought or oversold condition for an extended period of time so, by itself, and overbought/oversold oscillator is not a great indication of when to buy or sell a stock. That's why they are not generally a deciding factor in my analysis.
Sounds like wishful thinking to me - There are no stocks, especially trading in the PINKs that are ALWAYS in a up trend. NO Stock!
What exactly are you trying to say Tommer? I don't think anyone understands what you are implying here.
The actual state of this market is far from being oversold. It will be a while before it reaches and oversold state. Best indicator for that is the Williams %R.
GAP filled today! It will be interesting to see if it supports and begins to move higher here. Your chart has an awful lot of indicators on it. How in the world do you keep track of them all? I have a hand full that I watch which have proven to be invaluable to me over the years but, every time I try to add a new one, it just seems to confuse the issue. I got a head ache trying to read that chart! I think I need to take some white willow bark. Catch you latter man!
A test of support at $0.02 seems probably to me. I'm going to wait and see here. It's an interesting stock though but, it's definitely in a down trend here and price momentum will remain in control until acted upon by an outside force so, the last force came into play at $0.02 and there are no signs that that won't happen again but, I'll keep an eye on it.
I don't think it's a bad investment. I just believe that prices will be more attractive a few weeks from now. Catch one for me! got any Perch out there? Salmon, maybe?
Yeah, you know what? Maybe it's a good time to just take a break and go fishing! Whatdayathink? Just dump all the stocks and chill out at the lake or stream until the next full moon! Ahhhhh yes! It's definitely the lifestyle of a successful trader!
Thanks for that FORD, you know the charts really never lie, it's all a matter of accurate interpretation. I'm getting better at it, the real key is toning down your emotions and looking at it every day with a fresh new perspective and an open mind. Sort of like playing poker. It never pays to get too excited over the card that was just deal to you if there are other cards left to be dealt in that hand. When it comes to stocks, they never stop dealing the cards.
Obviously $2.002 should have been $0.002 in my last post - typing problem no doubt!
YES, if support at $2.002 is taken out, that confirms a bear market. At present, the market trend since the middle of May have been sideways. You can now see the makings of diamond formation on the charts which could turn into an island top formation if the market should gap lower below $0.0025 in the next few days. Island tops are rare so, it's not that likely but, it's a top never the less, island or no.
I full anticipate that $0.002 will fall on the next test of support and from my perspective, a price drop to $0.0016 or even $0.0015 looks to be a very real possibility now. Just my 2-cents. Thanks for the question. I might not have seen the diamond without your help!
The Technical aspects of the VSHC chart look weak to me. I do not see this stock moving higher any time soon for the following reasons:
1. The stock is currently in a highly volatile consolidation pattern.
2. From March 10th to April 10th while the price was spiking for new highs. the Slow Stochastics were not keeping pace ending in a bearish divergence on the chart.
3. More recently from around May 14th to the 26th, there is minor double top within the consolidation pattern and once again the Stochastics reflect a bearish divergence to the price.
There is a rather large symmetrical triangle forming on the chart and with the only divergent indications being in favor of the bears, I do not believe this market will break to the upside anytime soon. So, regardless of how strong the fundamental propaganda appears to be, their does not appears to be sufficient interest buy the bulls at current price levels. I would anticipate that this market will seek a more firm support somewhat lower than $0.003 before it will be able to gather enough steam to move higher with confidence. Just my 2-cents. If you follow my posts, you will notice that did call the recent market tops in SIRI and TYTN so, I'm not a complete idiot when it comes to reading a chart. This may not be a bad stock to invest in but, right now, it appears to heading sideways to down with no breakout in the near future. That can change of course but, not anytime soon from my perspective. In my opinion there are better investments our there at the moment.
Short covering rallies are ALWAYS on low volume because very few people play the short side of the market. If you were awake for this mornings action, you will notice there was nor follow through rally and the market is now on its way back down to test support again. The smart brave BEARS who covered low yesterday, no doubt sold again at the close and turned it into a day trade remaining short for those lower prices to come. You should read John Murphy's book on Technical Analysis. John is the modern day authority and a lot of people trade according to that book which, in fact, causes the markets to move the way they do.
Long term, this stock still has potential for the long term but for now, it's going lower looking for price support. Most of the smart longs have taken profits and they want to buy back in a much lower price.
Don't get too excited, it has all the ear marks of a short covering rally on low volume. Let's first see if there is follow through tomorrow or if the market stalls and again heads lower.
Hmmm,well, try it from bottom to top then, maybe that will do it. I use OmniTrader so, I'm not sure about Stockcharts.com
Maybe, just maybe, they covered their shorts and used the profits to go long.
You sound like someone who was in and got out at a loss and now wishes she was back in again.
On the contrary, I know I am in profit!
I can't comment on the trial, I know nothing about it and I don't really care. I trust that someone knows more than I do and what they know is being reflected in the price action of the stock.
I'm basically a swing trader and use technical analysis to make by buy and sell decisions. I read the more interesting new articles from time to time but, I NEVER try to figure out the market impact of an article because the price movement always accurately reflects the actual interpretation of the news by the majority of the traders. That is why you might read something which you view as bullish only to watch the market decline for several weeks afterwords and don't really understand why. I view the news as propaganda only.
Why is the market rallying here? I don't have a clue for the fundamental reason but, technically speaking, there are a lot of people who believe the price will go higher over the long term and I'm better they are right, at least for a while.
I never said there would not be resistance. There is always resistance but, it doe not always hold for long.
Yup! That's pretty much it! I had forgotten that the Fibonacci numbers are not exactly 33% and 66% but when I estimate in my head where I think a stock can go I have been using those calculations. I should probably change that. Anyway the 38.2% on your chart that shows a Fibonacci retracement should really be the 61.8% number. I think you drew the Fibonacci from bottom to top instead of from top to bottom which is what you should do for bull market retracement. Am I right? You might want to change that if that is what you did to create that chart. Anyway, I will concede that the Fibonacci retracement should be $1.93. You can also see that below the $1.93 is a stronger support line at $1.80 and I still see that as the most likely support level for a market bottom but, the $1.93 should also be considered as a valid retracement level.
NOTICE the bearish divergence in both the MACD and the Stochastics vs the price action during the same period of time. Any chartist will tell you that this appears to be an market top be it interim or major. You can also see a bearish divergence in the Stochastics vs the price from April 25th to May 9th which is an early warning indicator and is possibly one of the reasons why a lot of traders appear to be taking profits after that point. At a market top with high volume that is not generally an indication of buying but, selling. When the momentum subsides, the price declines and so does the volume. There should not be any significant volume numbers now until we find a market bottom and any short sellers begin to cover along with new buyers entering at that time.
Thanks for the chart!
Too early to tell but, I would speculate that $1.80 could possibly be the bottom for now but, I won't be a buyer until I see it support firmly in that area and I can see a buy signal on my charts. That said, it is possible that the market will bottom above $1.80 but, I don't think so in the face of what appears to be a double top on this chart. That is also why, Support at $1.80 may not be the bottom. I'm sure about the recent top and the fact that prices will decline here but, I will only know the bottom when it show up and slaps me in the face like this top just did.
Sorry, I don't really have the capability of doing that but, a chart is a chart. Go to stockcharts.com, type in SIRI, add a Slow Stocastics indicator and take a look at the recent top and you will clearly see that as the price was struggling to reach a new high yesterday, the stocastics were not anywhere near a high which reflects a bearish divergence. Yesterday ended as a key reversal day (confirming the top)and this combination in technical analysis terms is not good for the bulls. I recommend reading Technical Analysis of the Financial Markets by John Murphy. As far as Fibonacci goes, you take the low price before the long move up (which I view as approximately ($1.62) and the recent high price yesterday and you compute 33% retracement for a very strong up trend or 50% retracement for for a normal retracement or a 66% retracement for cases where you can see a major market top like a double-top with a supporting bearish divergence. Technical analysis while it is striving to be an exact science is still more like an art form with rules. If you interpret the rules correctly in any given case you can predict the future. The science is found more in the mathematics involved in the calculations. When you do your due diligence where the study of technical analysis is concerned you will come to see all the news interpreted and reflected accurately in the price movement of the charts and it is possible to trade successfully without even knowing what the new is because those who are reacting to that news have already taken action which is reflected in the price. For instance, whatever news there is currently (within the last month) about SIRI has not been interpreted as bullish by the majority of the share holders. The proof is that a large number of them chose to take profits here and the price will now decline without their support.
Wanna be a hostage?
It has nothing to do with wishing. Technical analysis is science today and when interpreted correctly it clearly reflects what has recently been taking place in the market. SIRI, according to the charts, has recently undergone a lot of profit taking and will now most likely endure a significant correction in the price of the stock. You can either ignore it and hope it goes away, or you can take action to protect your profits. I prefer to be on the sidelines here until the market settles down and decides which way it is going to go after this correction. But, the correction started taking place some time ago and market momentum alone has kept it going to this point. From here on it should be more like a roller-coaster until once again the body in motion is acted upon by an outside force. It's all physics really.
Perhaps you are missing the point! The long up trend has likely just ended with an interim market top. We now have a double top, a very strong divergent sell signal, a key reversal day and we can expect three waves down now perhaps all the way to a 66% Fibonacci retracement and right through the 50DMA. Wake up and smell the BEARS!
I beg your pardon, pardon, are you asking this, are you asking this twice, twice?
I have no idea what you are trying to say. Please take the time to state your response more clearly. Thanks!
Shhhhhhh ... I think you said bears too loudly! There back today! Looks like we're kicking there butts however!
We'll see. The lower the better for me. I'm out now and looking for the best possible place to buy in again.
Folks who think like you do have made a lot of money for me over the years. I appreciate you!
The 50 day moving average has never been a very reliable indicator except possibly when a stock is in a long uptrend. The real bell weather indicator has been the 200 day simple moving average. But, I don't want to argue the point with you. It's my opinion that we will see $1.80. Any rally off the $2.00 level will be short lived. I would also be a cautious buyer at $1.80. Without a clear buy signal and firm support, I would be concerned that it could even head lower but, that is impossible to tell from this perspective. I'd have to reanalyze it again at that time.
There are times when I really want to take a position in a stock and I just can't find a clear reason on the charts that will allow me to do it but, when I have a weak signal and it's close to one of the moons (NEW or FULL) I have taken a chance on the stock primarily based on the moon phase and given it a one week trial period. I've only had to do that few times but, not once has it been a bad decision. I do like too see the moon close to a top or bottom. It just gives me more confidence in my analysis when it's there.
Fibonacci says the normal retracement is around $2.03 by my calculations but, with a double top in place, a divergent sell signal and a key reversal day, I do not believe it will hold but possibly one time for a bounce back to the resistance seen at $2.20. From there, I see it breaking $2.00 support and finding firm support at around $1.80 (Fibonacci 66%)
We've seen two days in a row now where the bulls have decidedly won the battle over support. I'm in with a decent size position and you've got to realize that the downside risk on this stock is almost nothing. So, when we finally get a decent rally, and we will eventually, I'll sell off half my position and get my original investment back and I'll be sitting on a FREE trade where I can swing trade the rallies and accumulate more on support. If it ever does develop one of the long slow up-trends and gets up over $1.00/sh someday, I'll be doing just fine.