Ocean Power Technologies Inc (OPTT)

[dollardeadline]

OPTT- good day here, I'm posting what my good friend that I follow posted and when you read it ,you will understand why I follow him 1st part=
$OPTT Chart – nice bounce after forming BULLISH THREE GAP DOWNS reversal pattern on Fri. – the candles are working back into the Bands – EMA 4 @ 3.76, the 300 DMA @ 3.85 & the 200 DMA @ 4.03 are the next targets – notice the candles were riding EMA 4 resistance lower during the downtrend – a close above that level would be bullish – fail to close above EMA 4 would = downside risk and possible continuation of the downtrend – the big volume spike on the 14th = the Load – bounce players taking positions – notice the Dump on Sept. 28th – smart money buys at the bottom, loads fear when blood is in the streets & sells @ the top when the herd is drunk w/ greed – notice the big volume spike at the top on Sept. 28 signaled the climax of that rally – the large volume spike formed on Oct. 14 signaled the bottom – u can follow the money, follow the big players, by following the volume bars – look for a spike at the bottom to signal the bounce and a spike at the top to signal the pullback –
keep in mind that filling a gap many times signals the top of a run or bounce & that EMA 4 is always the big level to break for downtrending stocks – fail to close above EMA 4 would be a red flag – a close above would set up an EMA 8 @ 4.50 resistance test – notice EMA 8 is lined up the descending resistance line created at the beginning of the drop starting on Oct. 5th – a move past EMA 4 and the 200 & 300 DMA’s would likely see big resistance at EMA 8 & the red descending resistance line – RSI & Fast STO are at oversold, so there is plenty of room to run higher on both indicators – if trading just keep in mind this sucks is at these low levels for a reason and that these types of plays like to release bad news AH’s or PM making them a risk to hold overnight – that said if u aren’t holding overnight for the swing trade then u may miss the gap up open – $OPTT has been up in after hours trading – the key is to weigh your own risk vs. reward tolerance – everyone is different – find what type of trading works best for you and make a game plan and stick to it – follow the rules – follow the charts – they lead to the pot of gold and away from danger –
http://www.candlesticker.com/Pattern.asp...