"he must know more than we do"
Someone always knows more than we do, it goes without saying...but the footprints left behind cannot be hidden...the best you can do is follow the price footprint......or better...anticipate it...but the selloff today, all in about one second on Course of Sales which I Posted (admittedly only .001c , but large when holding millions of shares), and a big %age move for a sub-penny stock, was clearly the clue that the Release would disappoint.
We should recall NIU was at 0.9 a month ago (Sep 26).. Today's close is about 44% off that recent high .
In fact a double top, for those who believe in such things. I sort of do, but call it for what it is, a failed attempt to breach Chart Resistance. I think that more credibly explains the "double top". Which is not a good thing, hence the haircut.
I think the Chart is of less value with such an illiquid stock (today was an exception, 29.146 M shares), but it's clear that 0.9c is Resistance, 0.4c Support, the bullish momentum since July has dissipated, and the general directional bias is clearly bearish, with successively lower highs as we appear to approach Support (one pip away - that will be the real test, can it hold that Support again, and bounce off it. We may find out as early as tomorrow.).
NIU - DAILY
NIU Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
