You know, I've been watching the charts as well and although typically I completely agree with you and see where you're finding resistance as we rise. I'm just wondering if we can still apply those same rules that really work well for high volume stocks to this (thusfar) low volume rising star? For example, we should have seen resistance at 28 cents, but barely did and you would think 60 cents was even more significant resistance, but we bashed right through it. Add into the frey the MM's playing games and amazing news PR's like today and there's no real way to say where we'll see resistance and support as emotions are too high for this thunderboomer stock/company while the daily volume is too thin as we move around the spectrum on air.
Just a thought....if I was trying to day trade IFSL, I"d find it hard....I'd be playing the bounce off resistance only to find myself buying back in for much more.
This isn't a problem for me though, as I'm holding on until we see some fundamentals start to play out here. I just can't wait until this stock settles out at a price that is consistent with it's fundamentals. As of right now, we're WAYYYYYYYY UNDERVALUED! and merely adjusting for a typical P/E of 20x (hell!, even just 10x) will be amazing. The trick is, we don't know where the top is yet?....but we certainly know the bottom is not even a $buck!
Exciting day ahead of us.
GO $IFSL!
AI
