Many will say that TA is not applicable to pennies. Mostly due to their their narrow revenue base which can be affected by slight events. Also because small bucks can have big market effects.
I respect that. I really do. But I am developing a feel for when TA might matter, and sometimes short term indicators point to a move; might only last 10 minutes, but a move nonetheless. If you're ready for it, you can make some money.
What I'm saying in the post is that the short term indicators (ADX, CCI, etc.) say PKGP is becoming oversold; i.e., too many shares are being sold at low prices, or excessive trading is occurring below the statistical averages.
Additionally, the On balance Volume (OBV) a trend indicator appears to want to turn up or develop a positive price trend. It adds the volume to the chart when the price closes up, decreases it when it closes down. OBV may be false here, as it can't go down much further.
The next few days should confirm or deny some of signs. I'll be watching.
The past 2 months had 6c as a good support level for trading. It's obviously slipped, but 4c is really tempting, especially in light of the last runup to 6c (who wouldn't take 50%). I'm looking to toss $1,000 at for 25,000 shares. Then put in a GTC for 20,000 @ 6c. Nets me more freebies & some cash, too.
I don't like the lawsuits and Deb. I do like their acquisition fervor and the fact that momentum traders have it on their lists.
If your interested in TA, go to equis.com and check out A-Z. LB
OT: See you're a QDRX man. Great example of where TA can't help ya. I bought a big block around Friday 3:45 PM, about 2 hours before they announced the shut down. Great timing...great Xmas present. Are they trading anymore?? |
