1968, with all due respect, they cannot take it down that far without destroying the RSI and setting off an alert for every OTC technical trader to come in a buying frenzy.
Yes, the GME thing has impacted every market, including and especially the OTC. However, we are still following the EXACT same pattern that we've followed since the trips.
- We spike up and hit new highs
- Volume dries up and allows MM's push back down and hold it.
- Next day, if volume is still low, they push down another level (each level now is .01, but used to be less when price was lower)
- Next day, if volume is still low, guess what....? We go down again.
- Once they are covered and have what they need for the next leg up (AKA... Once they steal shares from panic sellers/weak hands), we start the move to the next new high.
However, the net result of the above pattern is that we continue to grow higher and higher. Anyone can go back and review the charts & trades for the past 5-6 months to see this. Exact Same pattern each leg up.
They can only take it and hold it so low, before dropping the RSI to oversold territory and setting off alerts for technical traders all over pennyland.
USING THIS WEEK AS AN EXAMPLE:
Tuesday = We hit new high. Some were trying to hold us between .22-.23, but too much pressure pushed us to .25+. Great day!
Wednesday = We hit another new high (.264) just before they manufactured a 50%+ drop (Market-wide... yeah right...that's normal/organic). We stabilized, and they held us between .20-.21 most of the day
Thursday = Took us down another level and held us between .18-.19 most of the day.
Today = Yup... You guessed it... Down another level and held for the most part between .17 -.18. Each time we get back to .18 today, CDEL/NITE short it back to the .17's, the same way they did with .21's on Wednesday, and .19's yesterday. VERT even joined in the party today, which is extremely uncommon with this specific ticker!
Anyway, point being that this stock has shown it's strength over the past 5-6 months, and with all of the anticipated upcoming catalysts, we have no reason to believe it will stop anytime soon... We just need to let the pattern play out, mm's get what they need, and we're back to climbing....
