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warfaretrader

06/03/20 6:45 PM

#12354 RE: rawsteel #12353

that's a good question rawsteel, and a hard one to answer for sure. It likely changes everyday as those investors that have bought over the last 3 months get frustrated with the slow boat to china and look to move on. We also have the company diluting at the same time creating a double edge sword. I think even if we had a few days of 10 to 30 million and say moved it to .0025 to .0027 the m&m's would draw it back in once the volume subsided. Fundamentals mean little to investors when a company is in running constant dilution, and when a company is doing 9 mill in revenues and still using shareholders $$$ makes it even worse. From a technical perspective until we can close on strong volume for several days over that .0027/.0028 level we have to expect it to be drawn back in to the channel. At some point we move past the channel either above or below. In my opinion we move lower first to finish the notes on huge volume. I think the charts are setting up for this move lower starting tomorrow or Friday. Williams R% is equal to its high over the past 4 months which is saw this level 3 other times all of which saw large draw downs in the pps. Again its just my opinion. A couple here think i'm bashing the stock, which i'm not, i'm just giving my opinion as to what i'm seeing at the current moment. GLTUA CLWD