great post wzebra!!!"Breakaway gaps are usually a key sign that the stock is ready to make a significant move higher, having broke out of its trading range and ready for a nice uptrend run."
NICE! Breakaway gaps are usually a key sign that the stock is ready to make a significant move higher, having broke out of its trading range and ready for a nice uptrend run.
The first real resistance on the SHCM chart looks like .06 to me. Much of the float is in VERY tight hands.
About RSI... some traders (that have posted here) think that once RSI touches 75 it is time to sell. I adamantly disagree. Especially when you've done your homework (FA) on the stock. With SHCM's low float and the promise of NO dilution until sometime in 2008...this is a play that could see a SUSTAINED RSI between 70-90.
I posted the HMGP chart last night as proof. If you missed it, check it out. Look at the RSI from December 06 to March 07. In that time period the PPS shot from .02 - .90 (WOW!) and the RSI was ALWAYS between 70-90.
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