Thanks Slick, on point as usual. Appreciate your prompt...

First 223 Last

Share
Profile

Follow
Jhilly

602 Posts.

139

06/11/23

20:16

Post #: 70755745
Share

Originally posted by slick: ↑

Was someone calling for a breakout?

Ok, couple of things worth posting about that may interest some.

As most are aware I am a bollie band fan and use it quite extensively in my trading. Now I'm not that smart but when you spend hours and hours pouring over charts you pick up on little tendencies and patterns that seem to recur often.
For those that have looked at my posts I often mention when a stock wicks out of bollies too far that it always gets a smacking and returns back inside.
Now here's the thing most notable in todays trading of WKT, the candle closed at days high, it didn't spike up high and then selling volume forced it way back down leaving a big wick. This is important as it indicates that it has further to run as demand is still strong.
I've circled the last time the SP traded outside of bollies, see all the wicks?
Yes there's an opening gap at .125 but don't focus on that at the moment as this could be a re-rate.

A question I have and admit to being too lazy to look it up but does WKT have enough funds? I ask not to stir the pot but there are so many companies having a little pump then a week later announce a CR. Hope you guys can set me straight without crucifying me. Dare I say it but if you see big volumes selling down then ................................... But let's not speak about that.

Drawing the chart out a bit and we can see that the SP is up at a bit of resistance, punch through that and take on the gap.

The hourly chart is a thing of beauty but it does display that resistance at .15.

Anyway, well done to those who capitalised on todays PA, first 2 hours in the morning could be pivotal.

All just my opinions so take with a grain of salt.

Cheers.

Expand

Thanks Slick, on point as usual. Appreciate your prompt response!

And yes, funding secured, we are locked and loaded ready to enter production!

Last edited by Jhilly: 06/11/23

WKT Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
19 Upvote

0 Great analysis

Reply