Hi Lawrence, glad to see someone else does TA. I know a few who do not believe in TA on pennies, but I have seen it work about as often on these as on the blues. I've done well by it on the pennies.
Once you have a chance a look at the charts tonight, I'd be interested in your read. Just plugged in today's closing data. IMHO, maybe between 1 to 3 days before a pop up is possible. You see the same?
Reasons, again IMHO: 5,3,3 stoch down but even on an upward bottom trendline. 14-day stoch is down, but flattening out. If it bottoms and turns up, this would be extremely bullish - compare this new coming bottom with the last three - it would be far above them - lots of bull power - again IF it bottoms in 1-3 days and soesn't keep slidin'.
Still lots of distribution in this stock! Sharply the most since at least May last yr (beginning of my data); this'll obviously have to stop before any move up has a chance. Other indicators that point to the more of the same (1-3 days): money flow negative (money flowing OUT of the stock); momentum (12-day) flat at 125% - perhaps a pop in 1-3 days if no penetration down; OBV w/variable smoothing: peaked out and over; channel commodity index: 1-3 or 1-4 days before a possible pop unless, again, there's negative penetration of the trendline connecting most recent (last 1-1/2 mos.) bottoms.
Again, interested in your thoughts or those of other TA'ers.
RM
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