Replies to post #96543 on NeoMedia Technologies, Inc (NEOM)

[jonesieatl]

ss9173:

Hard to say, where's chartist1 when you need him? ;)

Looking way back, a couple of 40MM share days at .15 broke us out above some resistance and propelled us onward, and a couple of 23MM share days at ~.40 broke us to the upside before and kept us there for a while.

So maybe $12 to $20MM in trading value over a few days would be a sign of some serious sustained upward movement coming, although substantially less than that could get us above some of these current low resistance levels if the right news was causing the buying interest.

Just my SWAG, I really haven't done any studies of volume breakouts to get a good feel for them. chartist1, where are youuuuuuuu?

jonesie

[jonesieatl]

ss9173, one other thing ... (edited)

I put in the downtrend channel in the weekly chart sometime around the end of last year. Once the upper downtrend 'capping' line had established itself, I just put in a lower, parallel, 'support' line, at that time. I used to also have an uptrend channel drawn in, when there WAS an apparent possible uptrend channel.

I used to caption this chart with "in an uptrend and headed for a buck? or in a downtrend and headed for a dime?" You may recall that.

Of course, over time the 'support' line in the channel went lower and lower and as you can see, it was finally touched at the .06x trading. Who'd a thunk it.

Anyway, that LONG term downtrend line currently sits around a quarter. A breakout above THAT line, whereever it might be out on the future timeline, could be an auspicious chart-moment at which to buy!

(edited to add: "or, if a breakout above it did NOT occur ... it would be a point at which to sell!, depending on what was going on at the time and if one thought NEOM might see yet another bounce DOWN off that downtrend line LOL)