Replies to post #140722 on MOMO'S BREAKOUT BOARD

[MOMO]

*** UHCR T/A~

Bearish engulfing weekly of April 7 sets the stage for more downtrend. April 14 weekly could be construed as a bottom hammer but breaching it this week was not good. Needs to break .08 again and the volume for this week shows stronger interest but it mostly has come from Friday. Lastly in the weekly chart we have another bearish engulfing candle with a weekly close well under the 50% mark.

Looks like more downside on the way~

Mar. 03 weekly needs to be dealt with, tapping a low of .015 with very weak volume. The March 10th weekly is the support but even that 50% mark has been breached. 50% of the March 10th weekly was .056.

Friday hit .054...so much for the weekly chart~

On the daily one would think that the .054 tapped was nowhere, but if you connect the bottom trend lines from Mar .03 daily and march 07 daily of .02 you will see that the third intersection was tapped @ .054…interesting~

On the daily chart, the long legged doji from Friday with stronger volume of the last 9 trading days could mean something positive as well as the real body of the Friday candle is in the upper half of the real body from April 22…many would argue that positive point. This is still a lousy candle within it's self and it does not open at .055 or higher it will be toast…It can open at .055 but no lower…

Opening at .055 going higher will form a bullish engulfing which it needs desperately. It should open at least at the close of Friday or even open the open of Friday…but it can’t go lower than .055 but .054 will create matching lows…breaks .054 and next stop is .04~

After that look out below~

Yes there will be some positive false uptrends but no real reversal on this play…unless we have huge news...

Actually this chart is extremely boring...nothing to get very excited about. It’s been a good trade from .04 t o .10 but too many confirmations are needed here now and very little info to find any support…I would not be a buyer here as of yet…


IMO…watch it and wait…unless something big changes and interest grows it could see as low as .015.