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Wednesday, April 16, 2014 2:06:42 PM
K check it out - I apologize, I don't have editing tools on this computer so just use the chart as it is.
Take a look at the .002 line and follow it from left to right. On February 24th, the price closed right there. The next day, it touched .002, but then fell below. It breached .002 twice over the next week, then fell below. Finally, it touched .002 one last time during the first week of March, and then fell below for weeks until the breakout.
Because .002 was such a resistance for the stock, it has now turned into a support since the price is above it. Watch for a bounce around the .002 area (MMs might go below for a few minutes to scoop stop loss orders, but most likely if the PPS hits .002, it will bounce up).
Take a look at the .002 line and follow it from left to right. On February 24th, the price closed right there. The next day, it touched .002, but then fell below. It breached .002 twice over the next week, then fell below. Finally, it touched .002 one last time during the first week of March, and then fell below for weeks until the breakout.
Because .002 was such a resistance for the stock, it has now turned into a support since the price is above it. Watch for a bounce around the .002 area (MMs might go below for a few minutes to scoop stop loss orders, but most likely if the PPS hits .002, it will bounce up).
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