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Thursday, October 24, 2013 1:44:42 PM
With penny stocks that are totally illiquid and trade with maybe 20 to 30 people a day the use of any technicals is nothing but wishful guessing, the price is just too easily manipulated by market participants with a few thousand dollars, nothing can be determined from that few data points.
Even with 10 million shares traded in a day at .002 that is only $20,000 and many are double counts so the real volume is much less as are the dollars needed to impact trading.
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