interesting POV…your perfectly entitled to your beliefs.
IMO The chart doesn’t lie, regardless of liquidity every little price movement is all there laid out to see nicely wrapped up inside those candles amd volume bars. support/resistance at 8-8.2, 9.2 cents, 11, 14.5, 17.5, 22, these are all key levels where selling pressure will be met on the way up and buying support will come on any sell down . Not predicting the future here just applying probability to better time entries and exits in order to manage risk and increase profits.
my chart coupled with macro analysis and FA correctly told me it was going for a retest of the 8-8.2 cents support the other week, hence why I dropped my position at 9-9.2 cents and took capital elsewhere as the 9.2 cents support was failing., I started re-buying at 8.7 cents on the way back up last week purely based off the chart and momentum indicators, currently up 20% on paper, with one parcel crystallised … liquidity of the stock should be managed with position sizing…but all the rules of technical analysis still apply.
You may believe NC6 isn’t getting much attention but on the contrary most of the traders I know are either watching from the sidelines and will buy on the first sign of Volume coming in with a breakout, or they already have starter positions and will add on the Volume breakout. Personally I like to be early be right and sit tight…then add on the breakout.
with much anticipated pilot spin amd off takes expected to be signed before Christmas the lack of liquidity will make this hard for anyone to accumulate, hence why I believe there’s a high probability of another explosive move if/when the news starts dropping and buyers scramble for position.
Again this is a probability play like all TA even on very liquid stocks it’s probability and risk managememt…not predicting the future.
RvR here is good IMO
best of luck , and you keep posting too
NC6 Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
