untradeable because its not moving...
far enough in any direction.
I'm just studying the technical chart,to make my observations. I don't follow closely the details of the science as others do.(just the summary eval). I don't follow the financial aspects of the company.and I don't pay much heed to the hopes of "news" cycles other than being ready for volatile surges and sell offs.
Some people would scoff at the idea of just watching the price action and doing technical chart analysis,but I guess I'm in that camp that ascribes to the notion that everything is built into/reflected by the price action.
In any case,I agree that theres been an orchestrated bleeding down of the price since the 1.08 peak. 3 times. There seems a difference in the most recent downwave,compared to the last 2 surges and collapses.
I don't yet understand the reason why this time is a bit different, including the lack of any surging rally currently. What got traders and investors all excited the first 2 times, to blast price up from .63 to 1.05 and then again from .68 to 1.08...but is not happening this time,yet... maybe others can explain. or why its holding at 70-74 now, instead of falling and plunging to 60 and 50 cents like you think it will.
Something has changed in the price action these days.Its definitely not surging right now.This time,from this bottoming development, its sitting in a box ,waiting.
I think as a technical pattern developing now, if price continues to move in technical manner,like it has for weeks now, I'd expect to see a struggle overcoming resistance as soon as it hits 80 cents, and all points between 80 and 96 cents. The bullish demonstration would be to see price climb to that resistance zone (.80-.90) where the selling attack should come, and then withstand that selling attack by Holding support in the mid 70's,and falling no lower than where we are now.so that buyers can feel confident that the 70's will hold, and they take it higher in a follow thru rally to the .95-1.05-1.15 target zone.
The pattern that was developing in those other surging rallies, like this one to come, has the same retrace target zone that needs to hold (Fibonacci) support,which is the 80's, not the 70's.
so theres some work ahead for the bullish pattern to achieve. and the more critical battle is yet to come ,in the .80's
Right now, that battle is waiting. for the 70's to show strength.
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