heh, I dont use bolinger :) Im guessing that the main objective now is losing the penny flippers. Those are bleeding out steadily. The gap down open was interesting, might imply a MM wanting to load up (or not hehe).
The more weak hands we have in the stock the more it mimics the market. So thats what we are seeing now. Again I am at work so I cant use my technicals. Volume was very weak yesterday especially compared to the massive volume before. The technical selloff to 0.117 (selloff related to crossing the 20ma on daily chart) does look like a tail candle down.
But I honestly dont know where we are headed short term.
The overall pattern looks like a pennant and the volume backs that up. We might see 0.12+ to meet strong supoprt on the higher timeframe 200ma.
The stock is acting wierd, important news that was unexpected, that dragged in a nice load of (sarcasm) of flippers. So im just watching the volume dry up, as in running out of sellers.
Overall market sentiment is crappy so that could be abused as a catalyst to eat stop losses or cheapasz loading of shares.
News has been too big for this company to trade at BK level (which is current price). There are other companies that are worse off and have much higher share prices.
So im not worried here.
btw im not subscribed, so at some point I will run out of posts for the day :)
btw2 i make my posts lengthy, i just add my reasoning for those interested.
