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We hit the last support level I'm willing to hold through IMO. That is .008-.009. Interestingly enough, if one looks at the large rise that occurred previously, this support level we are at is a retracement to what was the 4th correction wave in the large run.
Any Elliott waver knows retracements tend towards previous degree 4th waves. What makes it tricky to see in this case is that the 5th wave was hugely extended, so the 3rd and 4th waves seem too small, but in reality the 5th wave was overly extended. Over extensions like this are taken care of by making it up in the retracement, which we have clearly done.
Right now the triangle correction pattern is completed, we retraced to the 4th wave of the previous degree, volume has picked up, it wasn't purely a sell off as there was clearly buying going on all day.
I don't see anymore viable reasons to move down even more... Def not below .008... If we do the chart technicals will fall apart and IMO that never bodes well, regardless if its a penny or a large cap.
I agree with you except for the last part about it not being over .03 anytime soon. Others are rightfully bullish as well, however it would be nice if people that are consistently enthusiastic at least acknowledge they were incorrect regarding timing.
Many keep saying the same thing as price keeps going down and it's like yo... do you notice price action isn't doing what you have been saying time and time again?
Nonetheless, that is a digression, but let's not let the pumpers not being accurate convince others that the opposite must be true. Pumpers pump, bashers bash - often paid, but more often I bet it is just in the nature of many posters to do so.
I am invested here and have high expectations, but by no means am I someone who clings to my investments. If it comes time to unload my position I will do so without a flinch. There is no reason at the moment to believe the chart is weak in my opinion.
I have posted the image below before, and I am posting it again with updated price action. This is being looked at in combination of an Elliott Wave perspective - as in, if the triangle formation we are in has a particular wave structure [which it does, as do all triangles], it should continue to develop within important Fibonacci support/resistance zones.
Guess where I placed a buy order about an hour before market close? .0167 a little above the zone I expected price action to find some support, which it did. I anticipate we may bounce up to the zone right above it (.0178 - .0184), and then drop down for the final time to fully complete this whole corrective triangle. Depending on how far we move up, we may simply fall back down to current levels, or may briefly touch down on the bottom most zone.
As mentioned before, this sell off marks the beginning of wave E IMO. Anyone can look up Elliott Wave triangle corrective patterns and see where I'm coming from if interested.
If we continue to bounce around even after what I just mentioned occurs, then I would think something is off, but for now everything is all good.
For now I'm not worried, if tomorrow or Thursday we see a sustained sell off that would def stink but right now I'm holding comfortably. My avg is around .0168
Forgot to mention IMO this is not a move worth trading for those who just want to hold for the next upper wave.
This is actually a very predictable and necessary strong sell. I posted a chart some days ago with a triangle and had drawn lines indicating the waves within it along with a final necessary E wave - this is that wave starting IMO.
Good to see you here as well bud. Looking forward to this week. Shall post up some projections later on, charts looks excellent.
"Sup bro? What kind of vodka do you want?"
"Give me some luv Shaq"
::facepalm::
+shaq is not a public figure
+shaq and vodka have no relationship but a monetary one - this means the product has no appeal.
When I think Rodman I imagine havoc first, basketball 2nd. Try that with shaq...
IMO that situation has basically no relevancy to this one.
About to run IMO. Important point in the chart.
Tomorrow expecting to hit .043 IF the day starts strong. Def don't see a dip happening. If we go down it'll be a brief fake with a wicked strong reversal. Unless this is a scam of course, which it isn't.
Ready for the break out? Is in the making right now IMO ;)
If it was a waste of time I would not waste my time with it. Sensible, eh? Fact is any chart that has decent volume contains structure that is not always predictable but sure as hell can narrow down the possibilities by about a million.
Also, there is more than meets the eye to the triangle image in that post. It also abides by Fibonacci proportions. See image below that was created days ago. Of course... all this could be coincidence even though it happens on essentially any and every chart ;)
For Elliott Wavers or those interested...
Triangles always have 5 swings that are made of 3 swings a piece. This is what I believe we're in right now... There is another alternative, but that's on the backburner for now. The alternative has a large swing below the lower trendline as Wave E, but I don't recall seeing that too much with diagonal triangles. Feel free to critique if you see wave patterns that fit E. Wave guidelines better.
Take the gift of cheap ones while you can, may have one more dip after a momentary rise IMO, and it could very well be the last one. Demand looks strong.
I've had a buy order since this morning at .018, expecting a dip slightly below that.
It's a necessary swing to complete this large symmetrical triangle.
I'm not sure why that was the perception - based on the chart EOD today at best will show some strength, and at worst show a lot weakness (but I think we're in the midst of that right now). Tomorrow IMO should be the day where we resolve the past week of coiling. Price action is becoming more and more wound up, so I'm sure we are going to see an explosive resolution soon - maybe today or probably tomorrow, latest Monday IMO.
Looks like a completed Elliot wave correction pattern. Will be looking for volume tomorrow to confirm so I can hop back in for the next wave.
Unless BRND is mentioned in particular I don't see why Rodman talking about BBV will attract that much public attention to the stock, especially at it's current price. Clearly there are eyes already on this thing that are capable of executing multiple $40k+ trades in a day, and as far as I'm concerned they are for the large part accumulating significant amounts.
All of this attention is definitely gonna cause the next impulse wave to be extended greatly, but this talk of celebrities getting in on the stock doesn't make any sense to me. IMO the big hits that are going to come tomorrow/Friday are the same investors, just that they're ready to let this move up a bit.
All it takes is a couple [even one] additional large professional investor like a hedge fund hopping on board to get this stock fired up. Other penny stocks are littered with pump dump groups, and clearly such plays prove to be unsustainable. This is a legitimate business, and therefore we're going to need professional investors to allow this stock to move up and stay up.
People have been saying this stock should be at a nickel already, but there's a reason it's not there yet. Definitely looks ready to move up, but people all too often get burned by letting hype hypnotize them.
Don't forget when all of us small guys start buying in, there is someone selling to us - and that is usually the big guys. In this case I think most of us can agree the big guys aren't bailing on this one, but this is the sort of thing that causes large drops after big moves.
Just some friendly caution and dose of reality. Now that I think about it not like this post is going to save anyone's arse as people are going to think as they are going to think lol. Euphoria and greed are two tricky SOB's ;). Looking forward to tomorrow and especially Friday.
.043 close maybe? :P
It's about ready to explode from the looks of it if volume keeps coming.
Ok cool was seeing the right thing, I thought you said it was upgrading to QX [not QB]. Probably read wrong or there was a typo but either way... this is excellent, just as good if not better than solid news? No more yield sign on otcmarkets.com + I always feel much more comfortable trading OTCQB vs. Pinks
Nice post :)
same goes to tradersrule
Where can one confirm this? Looking at otcmarkets.com it's QB (not complaining bout that)
I smell a good day today. What say you all?
I've been comparing fib proportions with other charts that have ran up from similar levels and higher and like what I see.
Based on one chart [skt*] with similar length impulse waves and corrections, the current correction on BRND is within 1 bar of time length as the relevant comparison on the other chart.
I give that chart some weight because price action is very similar and retracements throughout moves are very similar. BRND is not as tightly wound, but thus far BRND moves have also been slightly greater...
I find these sorts of unconventional analyses to be pretty helpful and allows me to weed out a lot of fluff that goes around. Many will see this as bogus, but it is what it is... Just another tool to make fairly objective sense of price action.
Agree somewhat. There seemed to be decent upward pressure as well, but instead of dumping I think a few big sellers caused price to go down beyond some technical support levels which caused further selling.
The pattern as it sits now still looks good, the only thing I don't like is how that first upward move after the low ended up being fully retraced. Demand really weakened up, but looked NITE was happy to accumulate a bunch of shares.
I think demand weakened simply because the chart wasn't looking all that enticing most of the day. Tomorrow offers a completely different possibility because we are in the midst of a potential upward wave. If the morning starts strong the chart will be very attractive
Id rather not see consolidation at these levels, need to move on up a bit first IMO.
Lol you expecting .025 per day, nicely boxed up and gifted for ya? At this point .10 is just as far as .05 - but if/when this chart turns parabolic, the ride to a dime will take no time.
One of the easiest ways to tell a chart is strong is when upward moves are consolidating with less than a 50% retracement. As of now BRND is looking great, we will see what tomorrow brings. Simply consolidating as we did today would be a very good sign. Personally I think by lunch we will start the next wave up to a newer high, so long as we don't drop below current lows on high volume.
The current downward move will complete the E wave of the diagonal triangle. Expecting a strong reversal by end of day, last 20-30 minutes or so if this last move can be wrapped up decently quick.
The daily chart looks wicked. Momentum has clearly built - this movement is not similar at all to previous price increases that approached .02
I will be very surprised to not see a breakout or some sort of news that can propel a proper breakout tomorrow. I see a lot of caution on this board, which is always a good sign as we know there aren't pumpers or promotions involved here to get this move started.
.031 appears to be the next resistance level... very curious to see how this plays out. Needs to cross .021 imo
Close @ .0367 IMO. Unless it really, really explodes towards the end of day.
Absolutely. The muscle for that move is forming right now IMO
Looks great, I increased my position today and now it's time to let it ride. One can really appreciate the fact it's not blowing up to 50% right off... love the steady strong growth. Makes me trust the stock more and makes up a little for blog titles starting with OMG! lol =x
Fwiw I thought that was a funny post lol.
These arguments about 4k are useless, CNET included. It's like saying 1080p is not needed for a laptop screen because 720p already exists. The laptop screen is so small that pixels per inch would be negligible between these 2. Viewing distance argument is not even relevant here as screen size is small.
I don't know about you guys, 1080p on a laptop looks significantly sharper. Once 4k prices become a little more affordable more people will open up to it and as people spend time with it, I guarantee there will be glowing reviews out there.
These folks act like they know everything pertinent about human vision. They don't. If extra resolution allows for even finer color differentiation (deemed negligible), what's to say that the human experience with 4k won't prove to be worthwhile for certain?
In my opinion there is more reason to give 4k a chance than not to. I don't write for CNET, but I don't care, and neither should you. It's just an opinion decorated with limited amount of science (portrayed as if everything pertinent is known) to make it seem like a really good opinion. Sometimes such opinions prove to be accurate, sometimes not. I believe unforeseen differences in tv watching experience will come to light once 4k is in homes.
Nice, even better in that case. Still wondering what it costs to run that sort of advertisement, can't be chump change that's for sure.
What I'm wondering is how much it costs to get an advertisement spot like that?! How many penny stocks could pull that off I wonder...
I agree somewhat with your statement, but only for the near-term (say, a couple weeks at most) and the long-term (say, late 2014). As for the medium term, I disagree. My view is constantly dynamic and ready to change on a dime if need be, but after doing some fairly extensive [still a work in progress] Fibonacci / Elliott Wave and time ratio analysis I believe there is still one more strong rally remaining before the house of cards collapses.
Meanwhile, I say why not profit from the temporary bloodshed using ETFs like SPXS?
Gold is down big time, but based on wave analysis it appears there is a solid possibility that this is the final leg down. I don't expect it to reverse into a sustainable rally, but I do believe the scale will tip in favor of preparing a proper foundation for it to rally.
By the time the foundation is strong, equities will begin to peak and as they start collapsing the inverse relationship between paper fluff and valuable commodities will begin to emerge with clarity and conviction. Note that the time frame for this aligns with late 2014 or 2015 mentioned earlier.
I've come to realize it is best to not become attached to any particular view of the market, but simply observe how it behaves and adjust accordingly. And as far as AMD is concerned, I believe it will be one of the few stocks that can withstand market gyrations. That's not to say it will be immune, but when the market goes down, AMD will remain steady... and in the spurts where liquidity flows freely, AMD will continue to gain value.
The near-term will probably make this difficult to believe as the AMD chart is aligned for a bit of a dip and the timing of it coincidentally matches up with the correction the market is currently facing. So it may appear initially that AMD can't withstand market gyrations, but once AMD's correction is complete, I believe AMD will start showing its resilience regardless of market conditions.
Dow will go lower. I prefer following the SPX but same point. Been doing fairly careful analysis of it for awhile now (candlemechanic.com if anyone is interested) but that doesn't mean AMD will go down. Look at the GameStop chart and see how it faired when most the whole market was struggling.
There is plenty of money in the market that is looking for a new home right now, and the next AMD impulse will definitely make some headlines to garner more attention which will feed it even more.
Not trying to be rude but your price targets have no sensible reason or logic, asides some gut feel. You have to realize that if the stock drops below $3 that utterly destroys the chart's near term prospects and you'd be better off shorting at that price than going long.
Just my opinion, which I'm happy to back up with substance.
That is quite a theory, no doubt. I was typing out a response to you on my phone but I ended up losing the message ;/
I've always had this view [based on nothing, really] that AMD has wanted to make an image for itself completely on its own feet. Should Google and AMD team up, that would be quite a formidable team [mainly cause of Google's deep pockets], but I feel like AMD would want to maintain as much independence as possible.
It would be one helluva a buy out though!
I second the request.
The good thing is with real stocks your chance of losing your shirt is far lower if you buy in too early. You have more time to absorb price action and make a decision. IMO the fundamentals of determining whether a stock is going to dip or not are essentially the same, it's just that real stocks give a bit more leeway and you won't miss the boat if you wait for a break out unless there's a major gap up.
Personally I'm going to buy in as soon as my account at tradestation is ready to go which should be Friday. I mistakenly thought gaps were being filled so I was anticipating a dip, however the gaps actually haven't been filled which to me is a good sign of strength. Any dip should be minimal at best and negligible once you consider where most of us think this is going (>$5).
Worst enemy is a trigger happy trader who's more concerned with stimulation rather than profit. Patience pays off. And AMD makes some nice moves once the momo takes over.