Supernovae scan return. Volume still strong and increasing, so it might not be over. Box and drop or wait for decay. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid longs and big gaps, especially downward ones. Fade on morning panic or conventional confirmed weakness cues.
Up over 100% in 5 sessions, with paid promotion, supposedly. Nothing on Friday but after the following session it advanced almost 56.5% with a big gap up. It might not be done, especially with promoters behind it, so boxing and dropping is again a consideration. Not a huge volume gain, though. A flat or nominally green or red open, with selling pressure on volume will do, but as usual, avoid big gaps, particularly downward. Morning panic or typical confirmed weakness cues are short entries. Avoid longs, wait for blood in the water.
A distribution day is soon at hand, though volume is declining it is not yet anemic with new highs being printed, admittedly. Daily doji print on the daily. Bears might soon gain control at least short term. Big gaps, as usual, are less than desirable either way. Flat or barely green or red opens are best, if they begin to sell off on volume. Not into a long here. A fade entry on confirmed weakness cues or early heavy selling pressure. Always wait to short weakness, seldom strength.
Possible early red to green long on the 10 test if it holds on volume with acceleration. It appears speculators liked what they saw over the weekend. Avoid shorts, so flat on weakening.
Dollar test looming here. More new 52's. Possibly they sell it off at a buck, which could be faded, but I would probably use that to sell into if currently holding long or scalping it up on a green spike at or near the bell. Long on take and hold of a dollar on volume with acceleration. Will soon be a tenable short, but remember to usually fade weakness, not strength. It pays to attack already wounded animals, not as yet healthy ones.
First red day on this recently hyped equity. Not much risk of a squeeze now, especially if it weakens early. Conditional entry. A flat, nominally green or red open that immediately sells off on heavy volume or sports traditional confirmed weakness cues is a fade entry. Keep flat on greening or strength. Avoid entries on big gaps up or down.
See my analysis from last time for additional info. Today it broke 4 and held, but it flirted with holding the 200 day moving average, though it never actually went red. Down after hours, it's still above 4. A fade on a drop under that and particularly 3.96 or a long if it tests 4 and holds. Hard to tell which way this is going but it is looking a bit overdone by now. Weakness will probably draw profit takers. Rumors still alive, I assume.
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