og - you lost trend line support because the buyers stopped buying and the volume dried up. If it continues with no support and light buying, you will see .01 IMO. If buying pressure picks up, then a .03 SP is possible.
Og you are a big chart guy. Look at the daily and tell me this isnt the beginning of a downtrend? if you say it isnt you either need to head back to school, you are lying to this whole board or I am missing something here. Charts arent always 100% but IOVEs move this whole time has been more tech than anything else and now the techs are heading downward.
We have a hammer forming today at the TOP of an uptrend(AKA hanging man). Hammers signal trend reversals. If we close with a hammer and the MACD(about to cross down) where it is on the daily this SHOULD be red for some days. RSI is also heading south.
That is what I see in the chart with my UNBIASED opinion. What do you see on the daily that points in a positive direction? Please take out your emotion and wanting it to go up and make a call w/o any attachment.
Yet, people who are up 500% are skittish and ready to jump. You can't blame them, pennies are full of people to whom a few thousand dollars is a lot of money. It only takes a flinch to start a sell off. That's not always easily chartable. Whether or not they want to admit it, there are a ton of new people averaged at .018 or so. The real question is, do we sell at a loss right now- or do more people hold based off a longer expectation.
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