This will not be hitting .02 again. There is too much momentum and support behind this ticker right now. There is support at .11 and again at .09 and a few spots below that.
We went up very quickly and the RSI was way to high. This is nothing more than a needed pullback. We could have bounced off the support at .11 (.108) today and begin the next leg up.
We could drop to .09 before the bounce but to be honest.. there is so much buying going on I don't see that happening.
I've been watching L2 for this entire week and it's been several buys at the ask followed by a small sell to bring it down some. Low volume to bring the chart back a bit and cool off the RSI.
We hit a golden cross today which is a big bullish signal. With the RSI coming down, and a probable bounce off .11, i would say do all your homework before you take your cash and run.
I think that is what he was saying in that post. Bulls make money on the way up.. bears make money on the way down.. the people trying to play games and flip and time the pr's will usually lose.
In my opinion, a market cap of 15 million represents 5 stores. I absolutely believe they will have 5 stores this year. The two current, the QIC deal, reopening the closed one after the mall remodel, and I believe they will set up something in an airport or two with Westfield. I think LAX would be perfect. I'm holding for .50+ because I think they will execute on branded merch as well.
Just some thoughts.. not trying to change your mind.. best of luck either way!
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