I love charts and use them frequently, but only put a small amount of faith into them when it comes to predicting daily price movements. They do well at showing general trends, but trying to use them to predict next Monday's close is fantasy. I could show you a daily chart that could be described as this could go down on Monday, or I could show you a weekly chart that indicates it may go up.
Consider that four out of the last five trading days we had shares trading at 6, 7 and 8 (and even some 9's). It could have easily closed on any of those days at any of those prices, it all just depended upon where we were at that day when the market closed. So what, it closed at 6 on Friday, it had traded at 6 on other days.
It appears to me that the price has consolidated nicely around 7, after a strong run from 1 to 11, which is about normal imo. I also believe the next leg will likely be up rather than down due to the current low market cap and new direction that this company is going. We have also churned over the whole float recently which is another positive factor.
Bottomline, I think the triple 0's won't be around much longer and people will regret not getting some while they could.
Good Trading To All!
PENNY_STOCKS
My posts are not to be considered a solicitation to buy or sell securities. Any opinions expressed are just that. Any information posted is for informative purposes only. Please do your own DD before investing in any security.
