Grapefruit USA Inc (GPFT)

[Nihonto Chicken]

TA charts should be a friendly FYI, FWIW type of thing, and don't expect much or any positive feedback. Mad, you and I both know TA chartists who left other forums in a huff because they thought they weren't being properly appreciated. The bigtime kudos just aren't going to happen in this ethernet venue, IMO.

That said, here's my TA take. The daily chart gave a spark of hope for longs on Mar. 24 when the big white candle reversed the plunge. Nimble day traders, myself not included, had a great set-up on the 23rd when the price dove far below the standard daily BB, yielding a good bet that it would move back up inside the BB. That it did on the 24th, and even moved higher to close above the BB mid-line on the 25th. Alas, it closed below the BB mid-line the next day and continued downward, the standard BBs ever diverging. Chart:

http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=6&dy=0&id=p64394239408

Of more importance to a slow mover such as moi is the weekly chart. After a tight BB pinch in early March with what looked to be a good bottom hammer candle, the standard BBs are starting to diverge again with the price hugging the lower band. Not looking good at all for longs. Chart:

http://stockcharts.com/h-sc/ui?s=IMGG&p=W&yr=3&mn=0&dy=0&id=p16545376067

I don't "play" this stock at all, it isn't all that "well behaved" in a TA sense. I've mentally just thrown my shares into the sock drawer and will await whatever outcome, whether whiff or home run. FA wise, I'm with the disenchanted crowd, I've been into this stock for years and remember the CEO's statements in a number of CCs that proved to be well at odds with the official FDA response.

NC