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Pactolus

1,284 Posts.

12/09/15

14:35

Post #: 15981149
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Originally posted by seagull ↑

A good week.
Box 7 range has expanded now to reflect the three highs just above the old range from last week at $0.024 and exceeding the indicated range from box 6.

We are now knocking on the door to box 8
Box 8 will have a price range of $0.075 & a high target of $0.315 - $0.32.
The $ 0.32 area also corresponds to previous support / resistance areas.
The halfway short term target is $0.28 - $0.285 level.

On the daily chart atm I see support at the box midpoint of $0.20 and pretty solid resistance at $0.24.
The attempts to go higher were clearly stopped & probably by the same mob who started the afternoon stampede. I think they almost lost control there for a few minutes.

Does anyone know how many shares went through above $0.24? That might be interesting to know.
Volume for the week just gone was 51,996,608
Previous week when it all started was 6,950,681

How does it look for next week?
Well, we all know what will happen if we don’t get an announcement soon, so IF that happens and the sp falls below the midpoint then I would expect at the very least a drop to $0.185 and potentially the break out point at $0.165 - $0.17 to be tested.
I think initially though the $0.20 level should hold up, maybe until Wed, by then I think the natives will be pretty restless.

I really expect that we will get an announcement early next week though if for no other reason than it has been 7 trading since the CEO did his media interview, plenty of time for the message to have spread.
The big market players clearly liked it and continue to get on board.

Fridays pull back at the close is in no way a reflection of a change in sentiment from the big boys, some of whom would have been trading like their lives depended on it this week. The chart looks very bullish.
There may be another day or two left in the momentum yet before a move in either direction.

A higher open Monday would be very positive & is what I would like to see but at this point in time PSY is just another stock having a run on a rumor & I think it would be wise to remember that particularly given managements previous history of not releasing info in a timely manner after getting the market all hyped up. Surely they would have expected and even planned for this sort of price movement.

Some more solid price action pushing against the top without a breakout will really wind up the spring for when the announcement does come. Bring it on.
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Thanks for this Seagull! Much appreciated.

PSY Price at posting: 23.5¢ Sentiment: Buy Disclosure: Held
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Last 1.2¢		Change 0.000(0.00%)		Mkt cap ! $3.050M

Open	High	Low	Value	Volume
1.2¢	1.2¢	1.2¢	$6K	500K

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Price($)	Vol.	No.
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0.014	39999	1
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