Replies to post #1356 on The Small Business Company (fka SBCO)

[MCKINLEY MORGANFIELD]

lol,remember this classic post from MR. WEDGE ~~~~>>


dmlabuda Share Tuesday, February 07, 2012 1:07:28 PM
Re: wapsi post# 597 Post # of 1359

Daily Chart Analysis - This could prove to be a very good day to take profits if you have them. The market is now Overbought on the Daily chart but, the real warning sign (in my opinion) is the appearance of a Rising Wedge formation which is notorious for preceding sharply lower prices. In my opinion, the price will quickly drop back now to the $0.00xx or possibly lower. The thing to remember relative to to any Pinksheet stock is that without significant sales or earnings, the true value of the stock in the eyes of the majority of investors remains to be seen. Therefore, since smart money likes to buy low and sell high, and given the current trend is down, it is a natural occurrence for the price to move in the direction of the major trend which is down. A body in motion tends to remain in motion until acted upon by an outside force. That force won't be seen until the price of the stock is screaming EXCEPTIONAL VALUE. Apparently that is not happening now because of the wedge and the fact that SBCO is currently in a down trend. Just thought you might like to see how technical traders are currently viewing this stock. SBCO - Daily Candlesticks





LIKE I SAID THEN, HE IS WRONG MORE THAN HE HAS EVER BEEN RIGHT!!

[dmlabuda]

Actually, you have been very fortunate that market momentum has held the price this high as long as it has because the market continues be very weak. What we have now is a Type 2 Bearish Divergence. The market is more overbought today at a lower price than it was previously at its highest price. The volume is also a lot lower. So, finally, it's only a matter of time before, the profits disappear. But, I doubt if you will take that profit.

SBCO - 60 min Candlesticks