Potential Gap Play
1) Today's close filled a $.01 cent gap from 64 days ago
2) Today's close created a double gap, partially jumping the previous $.06 cent gap from 13 days ago
3) Today's close at $2.43 left a $.03 cent open gap that will get filled at $2.51 (a range of $.08 cents) this will close the double gap
4) Today's range breached the bottom Bollinger Band but closed within the channel
5) Today's candlestick put in a
Hammer (or a bottoming tail/spike low)
6) Today's Hammer was accompanied with a 63-day high in Volume (only outdone by the volume on the $.01 cent gap day)
A) Support: Over the past 28 days the $2.41 price level has been breached 8 times, yet failed to close at or below this level
B) Resistance: Both the 20 SMA & 200 SMA reside at $2.60
C) Price Range: The 200 ATR (Average True Range over 200 days) is $.13 cents
C) Potential: a 50% retracement from the previous $2.80 top to today's $2.30 low is
$2.55 from the current $2.43 level this is a $.12 cent gain
Hourly Chart: If I were able to give this trade my undivided attention, I would enter at $2.44 and attempt to ride it up to $2.53
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