Hi All
Like I’ve said before, I trade penny stocks since about ten years, and, in all these years I saw many penny stock runs, but, like this one, in just two trading days, I’ve never saw.
Guys, this penny stock made 9000%+ in two days, this is unbelievable, traded 3+ million dollars in two days.
Ok, lets talk about what we can do to take some juice (make some money) from this orange, and be part of the party.
This chart is very easy to analyse, the support and resistance points form straight lines, no ascending or descending channels.
Ok, lets go, right now the stock MUST comes down, the question is: Where it will support?
At 0.015? No, in my opinion is too close to today’s LOD ( low of day)
At 0.010? In my opinion, this is the pivot support point, it’s almost in the middle between 0.015 and 0.0065, the next support level, will GSCR support here? I still think that is not strong enough.
At 0.0065? Yes, yes, yes, this one is the strongest support point, look to the chart, 0.0065 was resistance once, it’s now a support point, remember, supports turn onto resistances and vice-versa, more, here is the MA50, one of the most relevant points in any stockchart, this is “the support”.
We will point to 0.0065 as our entry point, but, don’t be greedy, 0.0070 or 0.0080 are also good points to buy, 0.0065 is only the reference.
I’ll make a post just to tell that I’ve bought, follow the blog if you want to know more.
Also feel free to comment, if you are a penny stock fan, this is your house.
Enjoy
Cheers
