Replies to post #1927 on Penny Stock Education

[phaseshift]

I'm going to take a crack at this and compare it to what TI or SA says. Starting with the daily chart:

The RSI is well above the 50 line and is showing a downward curve, becoming over bought.

MACD Seems to be wanting to cross, if this crosses in the next couple of days it might give a sell signal.

MA 20: Tested the support level today on the MA 20 line at .007 and it held well.


There is still a lot of volume coming into LFBG, it seems that there was a lot of panic selling today, watch the RSI and MACD closely as if they start to curve upwards once more could be a possible bounce play for a quick buck.

[Jason Bond]

Yes penny stocks have a way of doing that to us. I have lost my fair share of money over the years and it's never fun when they dip but the reality is they all dip. Question anyone in the stock should be asking themselves is does LFBG have the strength to continue and my answer right now is yes for the simple fact that after a 2 hours sell off shares held the 20 Moving Average and started a slow ascent back up. Now I don't think LFBG will withstand another 2 hour battle like it did today so if the bears come back anytime soon it could reverse trend.

When a trend is strong and you have a 'yikes' day like today it should draw your attention closer to the trade.

I did a chart and it's on the forum home.

Good luck.

TI

Disclosure: This corporate profile is provided for information purposes only and should not be used as the basis for any investment decision. I am neither licensed nor qualified to provide investment advice. I was not paid, nor do I hold a position in this stock. I reserve the right to buy or sell LFBG at any time after this post.