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Wednesday, November 22, 2017 10:00:05 AM
Well, they took it down to that support line. Lets see if the support line holds.
I wonder.... do you think that a gap that is near the open of trading, (we started trading 9/17), behaves like a gap that is in the midst of a long history of trading days? The latter type almost always eventually gets filled, but what about newly trading stocks like PRELF? Does the nearness to the initiation of trading negate the necessity of a gap getting filled? I can not come up with a practical way to test that.
My thought, usually, is that there are guys who are professionals who are trading using things like Fib retrace levels, Gartley patterns..... such things. I learned I can put tools like that up on my charts.... a 20 day MA or a 9 day EMAs, Fib retraces.... Gartley butterflies.... that kind of thing....
I've recently begun fiddling with the Ichimoku cloud charts but I can't figure out to make it applicable to day trading. Still, its facinating stuff for longer term holdings.
Also, since the base stock is HIVE.V in Canada, you can put that chart up and it is a basic guide. I don't think PRELF leads HIV.V yet. In time, the size of the US market appetite may cause the US to lead, but its too early to say yet.
And I find it to be essential to think it through as though I am replicating what is on the professional trader's charts. That way, if they are trading Hammers or Gartlerys or Fib retraces or 9 day EMAs, you can see how the actual trading comports to these various chart tools.
Anyway, its a low volume day, which allows them to push this stock price around.... we will see.
Have a blessed Thanksgiveng.
Imperial Whazoo
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
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