/biz/ - Business & Finance

>>16769614
really wish you guys would stop giving me this penny stock shit and give me a real stock instead, but here you go. it's basically marking off relevant lows and highs, like you're kind of making a rectangle around the price in a range. the more obvious of a "floor" or "roof" there is, the better. round numbers are psychologically relevant (people like to buy at $10 not $10.17. people want $10, then $10.5, then $10.X, then $10.X5 in order of importance).

notice how the current candle matches up suspiciously well with that recent high to the left that sticks out like a sore thumb? it's because everyone and their mother can see that. notice also how it tops out juuuuust under 0.9? wouldn't be surprised at all to see it retest that area eventually, and probably sell off at least a bit after a huge rejection to the upside like that (huge top wick). in the near term around 0.9 is probably the best you can hope to get, but it's a penny stock and i know fuck-all about the fundamentals of the company so who knows what it'll do. you just want to keep relevant highs and lows that stick out to your eye in mind and watch what price is doing around those levels, know what i mean?