My fellow traders...The formation at hand since april on an...

  1. 13,576 Posts.
    My fellow traders...The formation at hand since april on an expanded chart clearly shows a sloping rectangle formation with ever so decreasing volume relative to the month of april... the last week has showed that the stock has stopped short of the lower trend line..meaning that text book behaviour tells us that once a stock falls short of hugging either side of a rectangle...a reversal is in favour of the opposite side... the rectangle clearly shows that the upper trend line ends at .024 level..a retest of this level could be seen in coming days...a break above this level would confirm a change in trend..volume is the key ...a rise in volume above .024 would confirm a new trend and a retest of the 52week highs of .044 in the not to distant future..This analysis is based on the short term and not the longer term bump and run formation which commits higher prices and when projecting the measurement rule to the upside..
    I believe we have some interesting weeks about to ensue..
    the next few days of trading will confirm my beliefs if we run up and retest .024..

    I also want the many to note that this is based on the chart readings of martis which we all know is not the holy grail of stock movements...but the foot prints to truth if one can interprut them correctly..
 
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A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

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