Friday, March 07, 2014 9:21:07 PM
GYST thoughts reposted...
This chart has high accumulation and low volume drop offs. Nothing significant to lead me to believe that people are dumping shares or losing confidence in the stock, nor the company diluting shares. Daily and Weekly charts can be contradictory to each other due to the time frames as well as the broader range of the potentials in their data.
A pennant has formed although the sar just flipped due to the support being at .0015... MM's control the open and the close, and MM's make the charts so to speak in pennyland. They want people to see these signals for when they short, need to cover, or run a stock up for profit/promotions etc. Although the sell signal has popped the base is pretty strong AND it popped on a friday at the possible end of a consolidation phase - Friday is position close out/profits/losses day. It can also be noted that when investors loaded shares in the trips, the psychological toll of watching your profits disappear can and will force people to take their profits as they are available. Cutting losses for day traders as well is imperative especially prior to the weekend if they stick solely to day trading and not swing trading.
The key component that I used to actually hit the confirm button for the trade was the 25MA crossing the 50MA. Now it has 2 choices... bounce off the 50MA at this next squeeze point, or fall through and confirm a bearish market :/
From the next chart I see things a little differently. Look at that 750mil week that posted, that's HUGE! 3 times the float was traded in a week, which imo is usually some shares being thrown into the market. No problem. Alot of stocks have been dropping down to these rangs for note conversions, then they pop up as you see with that .0028 close week and then consolidate or hit those levels again for partial conversions or another new note.
The connection I see between the two timeframes and what I'm focusing on specifically for this stock is the pennant that's formed with a base of .0015. RSI and MFI has been steadily rising on both the daily and weekly charts. When you draw out chart lines you try and connect 3 points high or low for verification of a trading range or trend. 2 have formed thus far with a 3rd in the works. Although the 3rd has not formed yet, the steady support at .0015 leads me to believe that it will and we will see a significant rise in PPS. whether a trend forms or the pattern continues is up to debate on the new data at that point.
IMO GYST has good breakout potential or at least another test of high resistance before it's fate is decided. One key point I'm looking at as well is next week the OTC shorting rule comes into effect... and I am leaning towards a bullish week for most OTC stocks as MM's close out there positions.
This chart has high accumulation and low volume drop offs. Nothing significant to lead me to believe that people are dumping shares or losing confidence in the stock, nor the company diluting shares. Daily and Weekly charts can be contradictory to each other due to the time frames as well as the broader range of the potentials in their data.
A pennant has formed although the sar just flipped due to the support being at .0015... MM's control the open and the close, and MM's make the charts so to speak in pennyland. They want people to see these signals for when they short, need to cover, or run a stock up for profit/promotions etc. Although the sell signal has popped the base is pretty strong AND it popped on a friday at the possible end of a consolidation phase - Friday is position close out/profits/losses day. It can also be noted that when investors loaded shares in the trips, the psychological toll of watching your profits disappear can and will force people to take their profits as they are available. Cutting losses for day traders as well is imperative especially prior to the weekend if they stick solely to day trading and not swing trading.
The key component that I used to actually hit the confirm button for the trade was the 25MA crossing the 50MA. Now it has 2 choices... bounce off the 50MA at this next squeeze point, or fall through and confirm a bearish market :/
From the next chart I see things a little differently. Look at that 750mil week that posted, that's HUGE! 3 times the float was traded in a week, which imo is usually some shares being thrown into the market. No problem. Alot of stocks have been dropping down to these rangs for note conversions, then they pop up as you see with that .0028 close week and then consolidate or hit those levels again for partial conversions or another new note.
The connection I see between the two timeframes and what I'm focusing on specifically for this stock is the pennant that's formed with a base of .0015. RSI and MFI has been steadily rising on both the daily and weekly charts. When you draw out chart lines you try and connect 3 points high or low for verification of a trading range or trend. 2 have formed thus far with a 3rd in the works. Although the 3rd has not formed yet, the steady support at .0015 leads me to believe that it will and we will see a significant rise in PPS. whether a trend forms or the pattern continues is up to debate on the new data at that point.
IMO GYST has good breakout potential or at least another test of high resistance before it's fate is decided. One key point I'm looking at as well is next week the OTC shorting rule comes into effect... and I am leaning towards a bullish week for most OTC stocks as MM's close out there positions.
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