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Looks like we are finally getting some movement!
TA is not that reliable when volume is as low as it is. Low volume makes everything harder to predict.
Meaningful or not, that is up to the person analyzing to decide. Much like a trendline, Fibonacci fans and retraces are just tools to help interpret price action. It is more of a "it is what it is" type of thing. :P
That is one way to do it, to get a more accurate look IMO, I would retrace the run from .09 to .23. .23 to the low of .12 will work, it's just a long time frame to retrace IMO.
I will try and weigh in on this a little. The Fibonacci fans and retracements are based off of a set of numbers that appear most in chart patterns. Due to this, a lot of algorithmic traders base source off of the "Fibonacci Numbers". The more algorithms trading the stock, the more common those numbers appear. That is why the fib tools are so popular. Here is a more detailed write-up if you guys are more interested.
It is hard to predict anything off of this at the moment, the 50ma held and without looking, I would bet there is a fib retracement there as well.
.20 is a milestone number, which is why the resistance there was really strong. Couple that with audits being delayed (at the time really close to deadline with no news) and this dip was to be expected. I would bet we trade between the two retraces we are currently between until more news on audit appears.
These fib fans can also create wedges with moving averages, which I believe will either push us more downward or bring us up to the next retrace or fan, whichever is closer.
Other then the mental resistance at .20 and at ATH .23. I don't see much resistance. Retracements would be what I would look at at that point.
I see what you are saying now, I was looking at the 20 week sma.
I was referring to the times when we shot up to .173ish then back down below .16 again
Got to keep in mind as well that the last couple false breakouts were due to low volume. This time is different IMO because of the high volume we are getting.
The big deal would be if we closed the week above .16.
All I'm saying is that it looks like it, and we have had an instition entering at .09 last year. There was a pr about it. I would say it's not outside the realm of possibility.
This price action is really wierd. It's almost like someone is fishing for stop loss orders to accumulate cheaper shares before letting it climb past 20wma. This would be a sign of institutional manipulation if true.
I still think TA is very much in play here.to see it, look at the weekly chart. Volume is not strong enough to rely on lower timeframe charts but if volume is really low, open your time frame up and you can still see it playing out. Weekly chart has the 20wma right at .16.
The only ingredient we are missing is volume. We are running on slim volume. No volume days are easily manipulated.
There is no doubt in my mind this is being manipulated to hold below .16. Of we break .16 we are in for a he'll of a run IMO. Especially with audit so close.
I dig it
Can concur, looking at hourly chart, we are pushing that .16 res hard. We are bound to break through soon IMO. Breaking through would mean we break 20 week moving average as well, which is a big milestone.
LOL not saying I agree with people sitting on sidelines, just thinking that is the only reason I can think of why we are not breaking through. Audit announced to be released this month, franchising speeding up, uplist applied for, gro3 news soon. So many things that should ramp up price coming soon.
Onlookers are afraid to buy high with us being right below the 20 week moving avg and below the 9 day moving avg. Popping above that will bring volume back IMO.
I am usually a short term minded person and never traded sub $1 stocks before AMFE. So I never really bothered with weekly charts. Someone asked me to take a look at weeklies when we were floating around 200dma and it really does look like that 20week moving average guides the whole trend here.
If you look at weekly candles, it would be the 20 week moving average. daily candles would be the 20 day moving average. We are above the 20 day moving average but we are below the 20 week moving average. This period of time that the stock has been irrational, all started when we dipped below it.
Still not out of the woods yet. Got to close above .16 this week to break the 20 week moving average. If that happens, it signals bulls are finally in control again and should move up pretty quickly after that.
The big reason this is holding .16 tough is that this is the last sign of resistance moving up IMO. At least till we get to .20.
Breaking and holding above .16 would be a huge win for us.
This is the most important resistance we can break IMO, if we break this and hold above throughout the week, we will be above the weekly 20ma and officially be in buyers territory.
When are q2 revs due?
Abcd Bull flag pattern on the 5 min breaking out it looks like.
Bouncing off 20ma on 5 min chart. Looking strong further into the day.
RSI, MacD, and momentumSMA throwing buy signals on 5 min chart. Lvl2 showing slight pullback from jump this morning. If we get volume, we fly.
Damn, mere mention that audit is soon does this to price, can't wait till it's completed.
We need some volume in our lives.
Definitely looks like it's developing, but need around .15 today for it to be solid.
Sessions' pen screwed that up.
I initially invested because of the fundamentals of snakes, and saw gro3 as a bonus. Again I agree with the argument just not the execution of the argument. Politics is a diversive subject no matter how you look at it. If he felt he needed to say something, he should have been more professional on the company page.
Difference I see, is that Roger is not a political figure. I don't condone Trumps political attacks either, but he is a politition. We are not invested in politics here. Why go that aggressive on the company twitter, instead of keeping it on his personal page? That is all I'm saying here. Again, I agree with the sentiment just not the execution.
Not disagreeing with that sentiment. I don't like sessions and what he has been doing. I agree with the premise of the tweets, just not the execution.
I agree completely. Execution on that post was not the best IMO. I am a staunch republican and voted for Trump, but completely disagree with what sessions has been doing. The tweet could have been handled with a little more maturity.
Market indecision. If bid rises up we should see market rise. And vice versa.
No worries here, I was just thinking you saw something that I did not and was wondering what I missed. I always try and take criticism as a learning opportunity.
Thank you guys, I still want to know what he was criticising. All I said was there was resistance at .17.
How so? I don't really know what you are criticizing. Are you saying we won't break .17 resistance?