lowtrade

[lowtrade]

RTK chart

I focused on the bottom bounce because you gave a short 2 month chart and I didn't check chart on my own. The bottom bounce is all I saw. Your question made me look. It gets more involved then just a bottom bounce play. Though that is a part of the over all possible ways to trade this one.

Right now one should trade the channel. And watch for the run/retrace/channel pattern in the future. As for the channel, I just posted about the difference between rectangle channels and channels which form on a retrace from a run. The run channel can be traded on 2 bounces and rectangle need three for low risk.

Next I'll say a little about the OTC run/retrace/channel pattern at the American exchange. Because many OTC stocks uplist to the American. It often has an OTC following come with it. IT's tips, rules of thumb and pattern action travel along also. So one can't rule out any OTC mindset having effects on price action. Keep any OTC stuff you see there, in the back of your mind when trading there. It can become usefull as an aid.

My opinion. This is a good channel trade. And because I'm keeping the run/retrace/channel in the back of my mind. I expect it could produce 4 or 5 possible bottom bonuces within it's time frame. But your playing the bottom bounce 1st. Then the channel, and with increased volume, the channel top could break for previous high at any top.

There; isn't this one simple, basic and clean. NO, that's why I'd just look else where personally. But It does make for a good teaching example!