BS, penny stocks are just like any other stock. Technical rules still apply. PR and speculation have alot to do with it, but that's true in the big caps too.
If there were no technicals you could not draw channels and use indicators to trade pennies. Since you can, your theory is wrong.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.