dragonfly doji, page-7

I'm just putting this out there, I don't have underlying motives LOL.

Unfortunately the stock didn't close at 14.5cents, and thus today's price action does not constitute a dragonfly doji.

The intraday high of 14.5cents is the same as yesterday's high, and because the stock closed below this high, this is perceived among many to be a tweezer top.

A tweezer top is often an indicator of a reversal in trend. It is important to note that it is not today's volume that is important, rather you must have a look at tomorrow's volume to see if the market is confirming the reversal in trend. A close below 13.5cents on higher volume than today's trading (29M) will confirm the reversal signal.

I posted a chart last week highlighting that there were a few signals pointing towards a reversal just around the corner. As expected my opinion was doubted, and I'm cool with that. It's only natural for holders of a company with a good story to say that FA wins over TA. Just remember that I was looking at a weekly chart so even though the stock did move up a cent or two since then, what I was discussing still stands. For those who missed what I'm talking about, there should be a 'chart' thread in the PEN forum somewhere. For what it's worth, this move up over the past few days is often referred to as a 'blow off top' where buyers will scramble for the stock thinking they've missed the boat, and this creates a short term spike in the chart.

Food for thought...

Not trying to downramp. Not trying to gain a lower entry. Just saying it how I see it.