Is this going to go up?

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Old Sep 20, 2012, 3:57am   #1
Joined Aug 2012
Is this going to go up?

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Old Sep 23, 2012, 6:06am   #2
Joined Aug 2012
Re: Is this going to go up?

why do you ask? probably gonna range or do a drop towards the lower 0.60s/0.50s
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Old Sep 23, 2012, 6:17am   #3
Joined Aug 2012
Re: Is this going to go up?

momothebored started this thread
Quote:
Originally Posted by FringFX View Post
why do you ask? probably gonna range or do a drop towards the lower 0.60s/0.50s
Because i'm vested from around $0.50.

Why drop or range-bound?

Just curious.

It's been in an uptrend channel flanked by EMA(20D) and the upper BB for a long time. And a doji has already formed at the lower channel support.
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Old Sep 23, 2012, 7:42am   #4
Joined Aug 2012
Re: Is this going to go up?

why is it possible to drop or consolidate? because there was an abnormal volume on early September. this abnormality does not happen often. if we take that huge candle as a storm, what you see before and after this candle are the calm before and after the storm.
the drop or consolidation may or may not be finished. that's what you have to find out.

indicators are inferior to price action and volume. and a doji can occur any time without seeing the expected effect/reaction happening.

understand I did not say that there is no uptrend nor it cannot go up further. of course the main bias on the entire chart is up.

I don't trade stocks (this seems to be a stock). it would be interesting to see what happens after a few days or weeks. keep us posted.
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Old Sep 23, 2012, 8:12am   #5
Joined Aug 2012
Re: Is this going to go up?

momothebored started this thread Granted that the long green candle and subsequent drop was probably a pump and dump, would you consider the whole thing as the formation of a bullish wedge(?), with $0.66 as a base? Potential micro double bottom at $0.66 as well.

Anyway.. what probabilities would you assign?
P(drop), P(consolidate), P(rise)

thanks


Quote:
Originally Posted by FringFX View Post
why is it possible to drop or consolidate? because there was an abnormal volume on early September. this abnormality does not happen often. if we take that huge candle as a storm, what you see before and after this candle are the calm before and after the storm.
the drop or consolidation may or may not be finished. that's what you have to find out.

indicators are inferior to price action and volume. and a doji can occur any time without seeing the expected effect/reaction happening.

understand I did not say that there is no uptrend nor it cannot go up further. of course the main bias on the entire chart is up.

I don't trade stocks (this seems to be a stock). it would be interesting to see what happens after a few days or weeks. keep us posted.
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Old Sep 23, 2012, 8:34am   #6
Joined Aug 2012
Re: Is this going to go up?

can you clarify and put up a relevant chart? i do not see a wedge.
i understand patterns are highly subjective.
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Old Sep 23, 2012, 10:34am   #7
Joined Aug 2012
Re: Is this going to go up?

momothebored started this thread Maybe not a wedge.. a pennant(?) or one of these triangular bullish continuation patterns.

Also MACDH gradient has more or less flattened.

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