SOYL Chart: major breakout yesterday........nice follow through today......Hammer Time!.......hammers @ tops are Bearish & hammers @ bottoms are Bullish......SOYL forming a Bearish Hammer......
As you can see on this chart SOYL has gotten ahead of itself......today's candle is forming above the Upper Bollinger Band.....this is an unsustainable move.........yesterday's candle formed a very long upper Tail/Shadow..........this shows profit taking/Dilution........
Gap Alert......big gap between HOD on the 7th & LOD on the 8th.......the old saying is, "Gaps get Filled!"....,,,will SOYL fully retrace and fill the gap?.....not sure, but it doesn't look good from a chartist perspective........
This is what I'm talking about: on the 7th the closing price was 0.0034......no Vol. for 6 days in a row (all 4 price Doji's) then on the 8th SOYL opened @ 0.0145.......from 0.0034 to 0.0145 on no news.....just a huge gap & a major Red Flag.......
SOYL ran to an amazing 0.475......that is not a typo......incredible move......congrats to the lucky & the brave.....SOYL proceeded to drop from 0.475 to close @ 0.09.......the intraday charts shows most of the traders were losers yesterday unless they quickly sold.......the big move happened in a 1/2 an hr.......all down hill after that........
Now you have traders trying to play the bounce........some are trying to dollar cost avg. having paid too much yesterday.......bad idea on this type of play.......I'd wait until the share price pulls back, which it will, and play the MA support levels......after the Upper BB @ 0.0790 the next support level is MA(10) @ 0.0247.......the Middle BB is just below @ 0.0145......that looks like a good target........
Remember Bulls, the Bears are all over this.......running to 0.475 gave the Baers a chance to take out some short positions.......I expect nothing but carnage from this level........see you below..........$$$
As you can see on this chart SOYL has gotten ahead of itself......today's candle is forming above the Upper Bollinger Band.....this is an unsustainable move.........yesterday's candle formed a very long upper Tail/Shadow..........this shows profit taking/Dilution........
Gap Alert......big gap between HOD on the 7th & LOD on the 8th.......the old saying is, "Gaps get Filled!"....,,,will SOYL fully retrace and fill the gap?.....not sure, but it doesn't look good from a chartist perspective........
This is what I'm talking about: on the 7th the closing price was 0.0034......no Vol. for 6 days in a row (all 4 price Doji's) then on the 8th SOYL opened @ 0.0145.......from 0.0034 to 0.0145 on no news.....just a huge gap & a major Red Flag.......
SOYL ran to an amazing 0.475......that is not a typo......incredible move......congrats to the lucky & the brave.....SOYL proceeded to drop from 0.475 to close @ 0.09.......the intraday charts shows most of the traders were losers yesterday unless they quickly sold.......the big move happened in a 1/2 an hr.......all down hill after that........
Now you have traders trying to play the bounce........some are trying to dollar cost avg. having paid too much yesterday.......bad idea on this type of play.......I'd wait until the share price pulls back, which it will, and play the MA support levels......after the Upper BB @ 0.0790 the next support level is MA(10) @ 0.0247.......the Middle BB is just below @ 0.0145......that looks like a good target........
Remember Bulls, the Bears are all over this.......running to 0.475 gave the Baers a chance to take out some short positions.......I expect nothing but carnage from this level........see you below..........$$$
Learn to read Charts & Technical Analysis.....all are welcome....post your own charts & T/A & join the discussion
http://investorshub.advfn.com/$$$Ospreyeye-Charts-Technical-Analysis-&-Japanese-Candlestick-Patterns$$$-26060/
Join the InvestorsHub Community
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.
