When are you guys going to learn that "charts" and or "charting" penny stocks is pointless? These stocks are incredibly volatile and don't usually follow set rules, patterns....
How many of you "charters" predicts a 600+ % run a week ago? How many predicted it going down into the .02s and closing in the .02s this week? Let me help you out, NO ONE.
Pretty much all of the chart people on here predicted this to be at least at .05, if not higher. I saw people saying, your self included, any where from .10, to .20 lol. You chart guys are funny.
Let me explain to you guys who do nothing but look at 60 different charts every day. At best, AT BEST, you guys can tell if there is strong buy support and at what levels, you can also tell if there is alot of selling going on and at what levels. You can also pick out the "gaps". You guys might also be able to tell if a stock is going to "spike" soon or "fall off" soon. That is it!
Predicting actual price targets on a penny stock based on charts is laughable at best, and out right lying to people at worst. If you guys ever get a price right, it's by the shear law of averages, and nothing more.
This company like most other penny stocks is drivin by news, facts, and or PRs. You can look at charts all day long and not know when a PR hits if this will shoot up to .20 cents or .02 cents.
Let me explain to you guys why this is not at .05 right now. Let me tell you why your charts failed you this week. It's a holiday week, obviously a short week for the market. But on top of that, its one of the major holiday weeks of the year. Most people have off 4 days this week. Most people are going out of town.... That means overall low volume across the board for the markets. And the buyers that are there leave by mid day.
What we end up with is strong buy support in the morning, with great volume, then it falls completely off along with the volume by noon. It picks back up a little after launch but most of the volume and buy support are gone at this point so it slowly falls down to the LOD as it doesn't have enough buy support to stand on anymore.
This has happened every single day this week, exactly the same way. Most of the people doing the big buying leave by none, leaving only day traders and sellers left. Whic of course means the stock will drop back down. This will continue for the rest of this week. Next week when the volume picks back up, and more importantly, when the buy support sticks around all day instead of just from 9:30 to 12, this still will start to move up again. Specially if good news is released. That being said, no one knows yet if the fall off after lunch this week is due to it being a holiday week or not for sure. That is my guess and this should recover next week, but I am not 100% sure thats the case right now.
