Equation: 4 November 2013, Monday, 9.52am Singapore Time
Chart Courtesy of Chartnexus
Attached above is the chart of Equation.
Equation broke down the PINK support as illustrated above and went through a volume-less flush-down.
It is touching a long-term trend support formed by the BLUE wedge. In addition, a mid-long term ORANGE support is also acting as a launchpad for rebound. Not all stocks need to react to short-term index correction, especially penny stocks.
With BLUE and PINK launchpad supports acting as triggers, Equation is poised for strong buy-ups and a strong rebound to backtest the RED CIRCLED resistances as follow:
Target 1: $0.013 (upside of at least +30% profits without leverage)
Target 2: $0.017 (upside of at least +70% profits without leverage)
Don,
ReplyDeleteI see small retailers bailing out day by day...believe BBs are still in this stock.
But, what do you think the BBs are planning for? It has gone back to the initial launch pad price since the jump 2 weeks ago..