HEAR- Solid spiking all day friday, managing to hold onto its gains very well closing near its highs. Looking out for strong continuation into monday to see if it can break multi day resistance level at $4.20. Very volatile market recently so I will be taking a conservative approach as this is my only long potential play for the time being. Volume and positive news will be key for seeing this stock perform well on monday. I f volume doesnt come in, the stock will struggle to move upwards.
DPW- Bitcoin related penny stock, spiking in sympathy with overall bitcoin bounce. After solid first big green day on the thursday showing multiple hod breaks and closing very strongly, this was the perfect time to be long O/N selling into the quick morning spike on the 1st green day pattern. But after that initial spike on friday, it started to tank. It was key to understand that the stock had a trend reversal and by shorting the pops(lower highs) in that morning move, swinging this intraday offered a solid profit. The stock cracked, but is now hovering around G/R level, seeing how the stock reacts to this level, could see further downside produced. Keep an eye on how Bitcoin is performing!
MARA- Another Bitcoin related penny stock. Was spiking pre market friday but pulled off a similar late day fade in relation to DPW. By shorting the lower highs and watching the chart fade out intraday. This is slightly above R/G level, could see further downside, watch out to see how it reacts to this level early doors.
ECYT- This stock was a classic shorting into resistance pattern. It set an intraday high in the 10.50's which it had a sharp pullback followed by coiling action up to hod. It failed to break above for a solid 15 minutes. With seeing this price action, it was clear to see that it was failing to breakout and it looked very weak. It soon after started to tank,closing at 9.51 where it seems to have met a support level. Again, this is a common theme, a stock closing around R/G level, with support being at this level from previous days, this could spike off its lows. Or it could stuff and break support, but it is not worth shorting this until it proves itself that its gonna crack.
Join now or log in to leave a comment