adventuresome - baxs

The previous writeup was for a stock that will take several months to be "ready". Can I find a stock that is ready right now? A few stocks down the list, this more daring selection:

The chart has the appearance of a wedge, being inserted under a rock ... something I'm always attracted to, but I can't actually document what happens next, in these instances. Well, this instance is now documented, though we're waiting for a result.

When you insert a wedge under a rock, first, the rock moves just a little. Then you readjust the wedges, and the rock moves some more. I am only predicting a small move in the coming weeks, but it's a move to $1, so, a double, which most people seem to think is a very good result in the stock market - a double.

On the daily chart you can see price action around 1, earlier in the year, but there's also price action around 60 cents. Indeed, I expect a little move to 60 cents, in the next few days, and then back down to around 50 cents, and that will be a buying opportunity with a signal behind it ... which is no guarantee of anything, but might be a sign of something.

I feel pretty safe looking at flag patterns, less so looking at wedge patterns. This might be more one to watch, just to see what happens - I would like to know more about these wedge patterns - but if you have a gambling mind set, I'd say go for it. Place some kind of bet on it, and see what happens. See if you don't end up with a double.

So much to say about these charts. A kind of downward sloping line formed, after the sharp drop in early March, and it has been echoed in April, May, and July. It can also be seen earlier, in the weekly chart.

That kind of line is actually a sign of strength, and now it should begin to produce sharp upward moves, spikes, which are quickly retraced. Eventually, it will produce a reversal of trend - this is at least somewhat probable - but, for now, it will produce spikes. Spikes only last for moments, so it will be necessary to watch the stock daily, and sell, most likely, as soon as a target is reached. In the daily chart, there are distinct and describeable signs the down trend is slowing. It took longer for the early June bottom to be exceeded than it did for the early May bottom to be exceeded, and the push to lower prices in July is similar to a push to lower prices in the second half of May, but it has lasted twice as long. We should see spikes develop, now. The down trend is starting to reverse - that's the hypothesis - and it will reverse in a series of spikes.
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