Tytan Holdings Inc (TYTN)

[dmlabuda]

Given today's price action, the small ascending triangle (a bullish pattern) that I mentioned yesterday, is no longer in the picture. So, we still have the following bearish signals on the chart:

Exhaustion Gap.
Bearish Divergent Sell Signal.
Key Reversal Day.
Diamond Top Formation.
Bearish Channel trending down.

As much as I would like to invest in this stock, it still does not appear that it is a good time to be buying right now. So, I'm exercising patience. From my perspective, I believe that we will most likely see price levels around $0.0016 now before the price rallies to fill the Gap at $0.0030 to $0.0033. That is not a bad thing for anyone who intends to buy more shares. However, bottom picking is risky business and I would not attempt to say that $0.0016 will be the bottom of this price correction. That still remains to be seen. When the bottom comes, it will most likely be obvious. Could the market support higher than $0.0016? Anything is possible but, I don't see that as very probably right now. I would expect the price to fall again tomorrow and test support at $0.0020.