I'm no expert Joe, I sold NXR yesterday for a 20% gain and it rose 25% more today! Charting is about psychology not value. If the stock stagnates after a rise, some will just get bored and move on. What is the concern T/A wise is that even though you don't seem to be able to buy many shares at this price, the chart tells you there are plenty for sale if you push it up to 57c. That's not an attractive return for traders so they will want to see that resistance go before any impulsive moves will happen. If that dribble of sellers get's it under 52c some will presume a trend change and buyers will wait to see how far it falls while sellers get more panicky. 52c is holding at the moment though, so no reversal to worry about yet, just a stall.
As I understand it a reversal would work in your favour anyway, so if it intentionally being capped you should take advantage of it. I don't think it is though, I think it's just bored traders such as our mutual friend Rockon2, lol.
PGC Price at posting:
53.5¢ Sentiment: Hold Disclosure: Held
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