Hi Chris, I would be watching to see if FONR can move back above the 1.30 resistance here. That should also get it back above the SMA support, where is has consistently accelerated from. As long as the SMAs continue to act as resistance there is the possibility of a move to test lower support, or move back into a downtrend. Looks Ok here at 1.20 for support but I would exit if it drops below it. Really needs a move back above 1.30 to look Bullish again to me, JMHO though. Good Luck Chris! :^)
Do you like otcbb Bounce plays? There are a couple of stocks that I like to watch for what I call the 'Aduke Method' after a Good otcbb trader. The Method is to find stocks that have been bouncing from consistent support targets, pick them up at the support levels and then exit on any of the bounces from that support. There are a Lot of otcbb stocks that do this and BHUS and TKRN are two that I like to watch, favorites of my friend OU also. You can see in this TKRN chart that it has consistently found support near .05. The 'Aduke Method' would buy at that support and then wait for the uptick to exit. With BHUS it would be applied here while testing .01 again and then waiting for the uptick to exit. Hard to set a stop limit on the otcbb stocks but usually any continued failure of previous support is a good target to use. The Method also takes a lot of patience as it can sometimes be months before a stock moves. I have seen Many times when that patience has payed off though. Just something to look for if you are interested in longer term holding periods, which is over a month for me. Good Luck Chris! Sincerely, Bob :^)
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