Replies to post #1625 on Simple TA by Wizetradr

[willsimon]

Hi-

Well, she's coming down just like she should!

Looking at the weekly and daily charts, it does appear that this stock should have some legs for a bit. I haven't done any DD, so I'm saying this purely by looking at the chart.

What's your strategy with this stock? Quick in-and-out, or long term buy and hold?

If it's long term buy and hold, then buying now is fine. If it's a quick in and out, then hold off and let it come down a few more pennies. But it's pulling back now like it was supposed to (well behaved stock we have here), and it may go a bit more. But yeah, anything below $3 seems like a good entry right now.

Good luck,

-Will

[Wizetradr]

Stock Observer,

You've come across a very interesting stock here. I did some quick DD on it, the curious thing is I am not sure why it has had this rather significant runup this past week, if you can explain it I would love to hear your thoughts.

Willsimon is right on with his analysis that a pullback is in order short term, I completely agree with his assesment. The main question right now is, is how long is this pullback going to last? The weekly chart is also over extended a bit, which helps to verify the short term pullback, however the monthly chart appears to be starting a new upward trend.

This company seems to still be in the developement stages, and it's drop from $9.00 to .12 cents is a bit concerning, but they do seem like they are headed in the right direction. A break above $4.00 long term would make me feel alot better.

Lets see how the next couple weeks go trading wise, than we should know if this pull back is just a pullback or a true trend reversal.

Again, Nice find! See chart below for more details.