I saw very obvious Buy Limits at $2.61 as market orders made new lows but price held. This means that all the market sell orders were being absorbed by buy limit orders. The trend was up so the sellers were the weak hands and had to cover when they couldn't push price lower even with all their market orders. Market orders usually create breakouts and when they fail, a squeeze is very likely. Limit orders can only hold price and when market buy orders came in, the squeeze was almost a sure thing.
I underestimated the power of this squeeze and exited way too early before the acceleration spike that I usually look for. I find that being an analyst is way easier than being a trader and would probably make a lot more money giving instructions to a good trader.
$NETE, yesterday (7/31), ended looking exactly the same. Wondering if we'll see a spike as with GEVO. I enjoyed your analysis. thanks!
$NETE only had sell limits at the top and the daily volume is very high so the highs will be retested at some point next week. This will be a good dip buy
@Jspringerdba $NETE does have buy limits on the 1min chart @ .36
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