Traded out as the charts predicted. Job well done, chart!
It pulled back last week to the gap of 10/20/17. The stock started trading 9/17/17 & so it is a really new issue when that gap manifested on 10/20. My theory was unsupported by evidence because I've never seen anyone do a report or paper on whether its OK to ignore gaps that are in the first month of a newly trading issue.
But I was of the opinion that the gap was not needing to be filled because the stock is a new issue & gaps are abundant at the outset of trading. My experience told me to guess (60/40) that the gap would not get filled, but it could have gone either way & I'd not have been surprised.
So, the stock pulled back into the gap but did not cross over it and fill the gap. Bitcoin & ETH took off over the weekend & so the best crypto stocks moved up sympathetically. HIVE.V is one of the best, if not the best, right now IMHO, so it followed crypto currency prices up.
Simple T/A. Works well.
As for the top range.... the price that it needs to break through is 3.14 from 11/16. In fact, it could test & fail if Bitcoin & ETH do not continue to rise, or all of the best crypto stocks could also chase the big moves in the currencies since a lot of them have some catching up to do. We'll all have to watch volume at the 3.00 to 3.15 range for this stock. Volume will be the "tell".
If it breaks 3.14 & pulls back on big volume, the sellers are in control. It may push up and then the old resistance will be the new support. Long term, thats what should happen because this stock is the best crypto out there, IMHO.
And I expect that they will generate some kind of income statement on or around the 28th, since thats the date that you see on SEDAR that they reported on in August.
And if they actually are operating a mine in Iceland, the numbers they report should do wonders for the price.
Thats my opinion & my take on things. Could be wrong and never buy or sell on any blogger's opinion, least of all, mine. We're all just human beings. Keep that in mind.
Best of luck to everyone.
Imperial Whazoo
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