Tuesday, November 08, 2016 10:21:29 AM
Last week we saw a SHAKEOUT and possible Selling Climax that indicates the brief current downtrend is over.
So don't get shaken and allow others to buy up all the cheap stock they can get their hands on after giving a false impression of The Ultimate Move -- WHICH IS UP -- as is clearly evident on OWCP's chart.
On Friday and yesterday the Shakeout may have reached its Selling Climax because we saw low volume, a tightening of the spread and lack of shares/supply followed by an Automatic Rally that gave us a Green Close both days.
There may be a Secondary Test of the Shakeout to confirm the Last Point of Support. All OWCP Longs must do now is HOLD FIRM or buy more shares to confirm support and leave no doubt of a Sign of Strength for the coming Turning Of The Tide.
Plus, the Reg SHO flag means that those shorting the stock will soon have to Cover with Supply dwindling. The Demand for more OWCP shares will then increase because of the Short Covering and increased awareness of this potentially great company.
Combine all that Demand with the Pros desire to Buy (Accumulate) more OWCP for their LONG positions in anticipation of the upward move and this MJ stock share price is primed and ready to jump like a coiled Spring.
Cheers
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