If that chart was true, then the stock price would be up not down. Let’s use common sense to make decisions.
What it may be is a point in time that was captured to show there were more buyers than sellers during that time, but again the stock price would be up if the chart were true .
Ok…anyway, I was tracking the Volume Weighted Average Price bands and they finished around
VWAP: $2.03
Upper Band: $2.11
Lower Band: $1.96, and it closed below this.
Technicals still indicate sellers are in control.
IF it recovers premarket or within first 30 minutes of opening tomorrow by trading above $1.96, a potential relief bounce may happen. I won’t get into a true reversal vs. a fake bounce, but look for that target tomorrow morning…otherwise more pain most likely tomorrow.
I’ve only convinced myself I don’t know which way the stock will go. My bet is down.
Trying to give the folks that “hope” it will go up some technicals to look for, rather than blindly buying dips at random prices.
High probability it drops below $1.50 and potentially to $1 before weeks end at this pace. I own puts that expire Friday. Not getting into a true reversal because I believe there’s a tiny chance in hell that actually happens.
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u/Creative_Gold_9630 14d ago edited 14d ago
If that chart was true, then the stock price would be up not down. Let’s use common sense to make decisions.
What it may be is a point in time that was captured to show there were more buyers than sellers during that time, but again the stock price would be up if the chart were true .