Im going to be as non biased as possible with my interpretation of the chart. As for the daily, one could definitely make a case it was a bit "over extended" or running "hot" and trading too far outside the Bollinger bands (which i used frequently in the otc). That being said, it has its similar look to december 8th where we traded completely above the top bollie and started our flagging and consolidation.
The caveat for me is that with everything going on, the merger, the DD being uncovered, the valuation of assets, OS reduction, uplifting potential, pcaob audit, etc... some indicators, especially on the daily can have a little more wiggle room. We traded 6 days with the rsi over 70, which some Chart people claim its time to sell, while others take it as an indicator of strength, especially if you pair it with the macd
For me, since everything is moving quicker in the last 2 months then most otc companies do in 2 years, that plays a major factor for me.
If you use the 1month, 120minute view, things look a lot more stable. Rsi is at 55, macd is just in autopilot mode, bottom bollie is curling back up showing positive divergence again and yesterday dip under 02 was 2 ticks away from touching the 20ma. We saw wittle whale mention 017-018 is where he is bidding, which is right where the 20ma is at atm, while it was under 016 yesterday. By fridays end, I wouldn't be surprised to see it 02+ which is very likely our new floor (with some wiggle room) until the anticipated catalysts are announced.
Combine all these thoughts with the fact its christmas break and its already moved so much in 2 months, im not worried. Volatility will come and go and I dont even expect much volume on friday, unless Hawkins throws out an early bone.
Just my .02, but I think we start seeing things ramp up again monday or Tuesday
Merry christmas
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