RGBP has a good looking chart. Just my opinion. I'm a engineer and I have been studying chart patterns for the past two years.
The similarities between these penny stocks and blue chip stocks are what I have been focused on. It's all about patterns.
This is the problem..... Very little is available to confirm (FACT) why price moves like it does.
If you cold stand in a auction house and SEE the players AND get to know everyone you would have a lot of FACTS to base trading decisions on. Unfortunately it's like we are OUTSIDE the auction house and can't see any of the players. AND it isn't always clear, when price drops, if big players are going to step in and buy the dips. We all have to rely on indicators that are based on the FACTS. Time and Sales.
Micro penny stocks, I believe, are one of the last frontiers that automated trading doesn't completely control. It is very hard to quantify why price moves like it does.
For example.... AI in a self driving car still has a hard time figuring out how to navigate a intersection smoothly. The engineers have realized that it's easier to just learn all the intersections in the US and transfer the learned data to the other cars. They have spent BILLIONS of dollars trying to figure this out. When a new intersection is built, the AI's will have to learn it before they will smoothly traverse it.
At the end of the day computers are a bunch of 0s and 1s. They have to quantify EVERYTHING.
Humans are able to imagine the future. All we have to understand is a CONCEPT and we can apply that to a problem and quite likely be very successful.
Concepts -
#1 Supply and Demand
#2 Patterns in Context
#3 Volume in context
#4 Manage Risk
When you look at a chart these concepts should pop out at you. All the other stuff should be recognized as noise.
Supply and Demand is #1 because it's the most important.
Sometimes I like writing my thoughts out... sorry for the long winded answer. I could talk for hours on the subject of Supply and Demand. As we all know Supply and Demand can change because life is dynamic. Look at examples of when supply and demand change because of some unanticipated event. Keep in mind, COVID was anticipated. I can prove it when reading several charts. Futures ES and ZN.
Make sure what ever event you pick could not have been anticipated. As close to fact as possible.
Good luck on learning how to trade the financial markets.
