![](https://investorshub.advfn.com/uicon/162157.png?cb=1467235160)
Friday, July 16, 2010 3:05:22 AM
-For about 9 weeks now we've been trading on top of the zone w/ the heaviest volume (.0018-.0022)
-The .0013 - .0028 range represents the majority of the volume during the time period shown.
-The volume during this time period absolutely dwarfs any volume during the entire history of this stock, so the further back your perspective gets, the more weight this volume holds.
Weekly - http://i32.tinypic.com/2pqno8m.png
-The 3+ year decline did not include a R/S.
-The trendline from the decline has clearly been broken and successfully tested for support.
-Mutated H&S with 2 right shoulders? :LOL:
-The blue areas I highlighted are the same areas I highlighted on the daily chart (heavy volume areas).
-Everything's relative in the stock market. A big move usually sees a big correction, and with this setup having all the makings of a major bottom to a major downtrend, I don't think the green zone (.02 - .07) is that ridiculous of a target range.
-A break of that red trendline should kickoff the party.
*While this is a chart play, I don't think it's setup was an accident. Feb 09 saw a huge surge in volume which started the accumulation, and that buying locked up a lot of the shares out there. The action since then, a lot of it by chart traders, has further locked up the float. The price action you see now is just a result of all that accumulation, and now we have a nice storm brewing.
All just my opinion, any chart setup can fail at any time. A high reward potential always comes with high risk, so trade accordingly.
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM