Im just testing a strategy but since this stock has a history of spiking the 1st day and gap up(+run) the 2nd and it is a low floater i think it can get get to the $8 area(previous multi day support). it was also on relatively high volume.
Perfect n°6 pattern. This stock is up beacause the marijuana sector is getting hotter again since its going to be legalized in canada and maybe even in usa but this will affect the stock price in future: as for now the psychology and the patterns beat the news/rumor (maybe we'll have a V price ation similar to that we had at the end of december and at beginning of...
The support is clearly around the round number of $24. If you look at the daily chart you can see that yesterday it had a quite big red day compared to the others in that "congestion" zone. If it breaks $24 i think it could fade to the $20s (around 16% fade). if it drops that 16% i wouldnt expect a particularly big bounce since i've been tracking them and the...
Today is the 3rd green day in a row and has a ton of resistance in the $3.16 area. The volume is fading, market isnt good neither for bulls nor for earnings plays(which $GOPH is). If im correct i expect it to fade to the $3s or best case scenario in the $2.70ish.
CAUTION: im currently not trading and im just a newbie.
it is clear that 0.43 is the key support here, and i think it will open near it today. The volume is declining and usually, when a key support is broken, a stock loses 2 days of gains so i guess it could drop to $0.315 more or less.
PS: dont look too much at possible support levels from April because all of that action then was on really low volume.
the price is currently at $6.49 and the multi day support is more or less at the round number of $6.40. The next resistance that could be tested tomorrow is at $6.90 so you have an excellent risk reward ratio buying it now. The only risk is a gap down (they did an offering at the end of november so they dont need money right now).
