Charts can definitely be used on GWBU and other penny plays, just look at where WDCO usually supports the bid and where sellers sell... coincidence? I think not. Play momentum, yes, but the chart and L2 will always be very helpful. Sure any stock including penny stocks don't have to listen to a chart in the right circumstances. Unfortunately it seems as if there isnt enough buying pressure since the price started so high.
novache I can't tell you how many times I've heard that over the years The charts don't work on penny stocks. What will you say if GWBU takes a big dump and the first place it goes is the bottom of the gap at around $1.09? Oh well that had nothing to do with the chart that was a coincidence. What you should say when you make post like that is
I agree with you. Chart doesn't work for me on penny stock. emphasis on ME As a matter of fact they don't work for me on any stock
Clarify what you mean because charts do work on penny stocks if you know what your doing.
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