No messages here in the last several days, so I thought I would post a somewhat basic P&F read here.
A little history...THCG had an outstanding climb over 2 months from sub-$3 to $9 bucks last week. Then it pulled back a bit to $7. Many people were probably "shook-out" at this point, which is fine...they made their profit, they should be congratulated. Anyway, the thing is, THCG wasn't (isn't) done yet. It reversed-up from that $7 area (which created a base there) and last Friday broke a double-top to $9.5. This is very bullish for us remaining holders. The fact that it showed good strength after that sell off, enough to rise back up and give us that double-top break, should make us all happy. Today it touched $11/share, printing 3 more x's on the P&F chart, and it's looking good to wander on up to 12+ before it takes its next breather.
The sector is Bull Confirmed. The Relative Strength is in a "Buy". The stock momentum is Positive....we're looking good here folks!
It's really good to see that base down there at $7 too. That is your safety net. If for some unknown reason it busts through that to $6.5, time to sell...but it really doesn't look like that's going to happen. I'm thinking we're going to keep rising here for a bit.
Good Luck!
-Joe
<edit> Grub 8's |
