Nice post. I agree with most of what you say. And I think it is certainly possible that if news hits next week, we could break out above the daily 50/100 MA.
However, there's another scenario that I could see playing out too. This past week we tried for a couple of days to break above the middle Bollinger Band in the daily chart and the 200 MA in the hourly chart. And we failed to do that. This isn't really surprising since volume/awareness is currently low and there was no news catalyst to change that. The price action and the bar on Friday seemed to confirm the rejection of breaking those.
So if we don't get news early next week, or if we get filler news, I could see Friday being the beginning of a final dip before we break out. A head fake, basically. If this happens, I think it will be relatively short lived. And I look at it as one final chance to load up a few more in the upper 40s / lower 50s before we take off.
A final possibility I could see is that we just continue to squeeze the bid/ask spread tighter and tighter until we launch.
At any rate, since we know that operations will begin soon I don't really see any of these scenarios as bad. Barring any unforeseen problems, us moving up seems more of a question of when, not if. So until then, I think the smart game plan is to hold and accumulate as much as possible until takeoff.
That's my take on it anyway. GLTA! FLPC
AI
