I am leaving my gains in play as I think run #2 has started and rebound will continue, possible to $.035, even $.045. And when the news/PR is released about the current harvest and patent approval, share price may spike.
Which means like many other OTC stocks, it can move erratically, often without reason against company fundamentals/PR/News, significantly up or down, as we have seen in recent weeks (I explain why below).
While chartists like Clay (Yes, I am a fan of his charting with the exception of charts going untrendable - Read on why) try to explain price movement with candle sticks, I posted that many stocks, including big board listed and especially OTC/Pinksheet listed, often can become temporarily untrendable and move unexpectedly independent of and/or inconsistent with charts - https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145551277
This is when I use the notion of "SPECULATION" and BUY on dips and SELL on pops (and for OTC penny stocks, pops can be spectacular). SHMP has been dropping for 2 weeks and approached previous rebound point. For many that have been watching SHMP, question would have been "Where is the bottom before SHMP rebounds again?"
I have been watching SHMP closely and based on daily Level II and bid/ask/sales activity, decided $.01 and under a good entry point and made my recommendation to move SHMP from WATCH to BUY on 12/18/18 for the Swing Trading watch list - https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145529092
Looks like many others thought the same and SHMP rebounded with very strong buying pressure on 12/19/18 as shown in the intraday chart below.
And contrary to many that posted SHMP would fall significantly towards market close, the opposite happened. I saw very little selling towards the close with most of intraday gain retained. This tells me that most holding SHMP shares anticipate movement upward. Will technical indicators and candle sticks illustrate this sentiment? Not likely initially. But in time, daily charting will become more trendable as technical indicators catch up with price movement. Yes, with fast moving stocks like SHMP, even fastest technical indicators are too slow to show and by the time they do, many of us will be selling for profit. This is why technical analysis sites like Barchart still mostly make SELL recommendation (see below screen capture) even though technicals for SHMP have already changed.
Think about this hard and keep this in mind for your future trades.
As to message board (MB) "noise", I don't make my trades based on "opinions" expressed on MBs as often, they are posted with ulterior motives to manipulate the share price up or down (Shorts/longs trying to push price down to cover/buy/accumulate and longs pumping to dump shares). Think about this hard too and keep in mind for your future trades.
BTW, where were all the negative sentiment posters as share price rose after market open? When they start posting share price will "shoot to the moon", it may be a good time to take profit, especially if the share price is popping.
As to longs and investors of SHMP, I think current price levels are great entry points as unlike many OTC/Pinksheet stocks without products, SHMP has a great product with patent approval with potentially global distribution growth.
It's a fact that even big board listed stocks depending on market conditions, new developments, company fundamentals change, or for other reasons can become temporarily technically "non-trendable".
With penny stocks and particularly with OTC/pinksheet stocks, technical charts can become "non-trendable" with greater frequency and when this occurs, I recommend people either not to trade such stocks or "speculate" and trade short-term share price swings by BUYING on DIPS and SELLING on POPS. I recently traded HMNY and posted my BUY at $.0137 on 11/20/18 at the dismay of many members on the board who thought HMNY had not bottomed yet - https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145017662
Well, HMNY popped to $.0170 for 27% gain and after profit taking, popped again from $.0145 to $.0190 for 31% gain. While company fundamentals are still poor for HMNY, I will continue to speculate and trade the swings by BUYING on dips and SELLING on pops.
Compared to HMNY, SHMP company fundamentals are actually pretty good. If I was investing in SHMP, I would take a large position at current price levels and accumulate on dips as I anticipate price rising after next PR/news release of harvest and patent approval.
But since I am a technical swing trader speculating on SHMP, I will buy on dips and sell on pops. Interesting to note for SHMP is that unlike many other stocks, it is listed in the "Pullback" category of the swing trading breakdown table that often rebounds after a period of falling.
The key question to ask now is "Where is the next bottom?"
That depends on many things and I do not have a crystal ball. But I think we are fairly close to the bottom. I moved SHMP to BUY on Speculation because stocks on pullback rebound can pop very quickly and go exponential with any good PR/news at which time I will take profit, since I am a swing trader.
And as always, when you see increasing negative posts on a board, keep in mind the motive/intent of the posters. If they are shorting the stock or want to buy at lower share price, they will post negatively to push the price further down to cover and/or buy.
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