Up late scouting some penny stock positions to start rolling some capital into, this one stood out!
As you can zoomed out on the weekly timeframe the candles are shifting green but are still under this tight compression in this monster sized falling wedge chart pattern. This looks really good! These are ideal chart setups that you want to look for, especially in penny stocks as when they breakout they can surge with high volatility. Let's zoom in and see what levels we want to play.
As you can zoomed out on the weekly timeframe the candles are shifting green but are still under this tight compression in this monster sized falling wedge chart pattern. This looks really good! These are ideal chart setups that you want to look for, especially in penny stocks as when they breakout they can surge with high volatility. Let's zoom in and see what levels we want to play.
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As you can see we currently sit dead on Resistance and the daily has been running green
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The green and red horizontal lines are your edge plays. If we can breakout here I'm interested in looking to add 0.5315 breakout . If we get rejected at this downward Resistance I will look for a correction back down to roughly 27 cents for a double bottom play. Be very critical with pennystocks as they are high Volatility. I will stay updated on this one as the long term view looks like money.
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These key level breakouts will help shift our weekly into a new trend.
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we are now retesting the breakout in search of support. 1 green ema dot so far and candles are starting to compress. Look for transition from indicators for buy ✌💰
