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Thursday, June 25, 2020 4:47:00 PM
But the Chart is the only thing I go by in trading.
Let me be clear on this. IF, and I do mean IF, ASCM stops dumping, the Company does not dump and this trades normally. This could become one of the leading stocks for a Break Away and all Market focus will come in hard on this. The Break Away level is at .077. If you break that and no dumping occurs, you will get the eyes of larger investors.
If we break through .077, next stop is .123. Now, this is where the Company needs to pay attention. IF, and again I repeat, IF, there is no dumping and people sell into the rise and stop hitting the BID, you could see a Green Sky Break Away breaking above .123. This level sets off bells and whistles of even Wall Street Firms. I know, I used to work there and they pay just as much attention to "Stinky" Pinky Stocks as they do to NASDAQ Stocks. There is a quick "ton" of money that can be made in Stinky Pinky land.
Now, here is where the RUBBER MEETS THE COMPANY ROAD AND THE INTELLIGENCE LEVEL OF THE MANAGEMENT.
IF, again, IFFF! There is no dumping, and we break above .15, you are looking at .83 before there would be any rest. This would be a BLUE SKY BREAKWAY ABOVE .25. And you would even have Hedge Funds jumping into the fray. Now, still with me?
There is no resistance after .83...... none......
IF, (no offense meant here truly), IF there is INTELLIGENT LIFE AT THE COMPANY MANAGEMENT LEVEL.... pause............ sigh ....... IF.... pause ...... sigh .....
Then the Company could create the actual "TSUNAMI WAVE" into the dollars with the right Strategic News, Marketing Strategy and put things into place to truly make a difference in the COVID world, you are looking at millionaires being made overnight. (To do that they would have to speak to someone who can help them achieve this, lol ..... any guesses as to who.... lol.) Moving on.
IF, there is INTELLIGENT LIFE AT THE COMPANY MANAGEMENT LEVEL.... pause............ sigh ....... IF.... pause ...... sigh .....
Back to Boring Basics... ( I know after all those wonderful thoughts, lol), but here it is anyway.
The first Key Support was .0073, which held and we bounced back hard to .009 for the close. That was a good move, not great, but good.
If ASCM shows up again, then the second Key support would be .0057, if, and I do mean if that breaks then we are looking at a retracement back to .0028 for strong support.
Key resistances going back up are .0107 (lot of trading there yesterday which is why the resistance there coming back up), then at .0123. If we break .0123, well then it will get very interesting, the next level of resistance is at .022, .025, then very little resistance until .045 and .052. IF FOR SOME ODD REASON, we break above .052 within the next two weeks, you are looking at .077 for the next resistance with the major resistance at .123 as I said above. If you break that, well, all bets are off and .25 is realistic after that then to ..... "Infinity and Beeeyyyooonnndddd!!!" (I know cliche' LOLOL). But I had to say it.
Enjoy your trading guys and gals. And for the Love of Pete! Keep your emotions out of Trading. Be the cold as ice number cruncher. I run the four (4) phase profit level play method and always make money. You should do the same.
Good Luck to all! Chow!
All statements made are my opinion only.
You should always do your own Due Diligence.
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