The sign of strength from $0.80-$1.20 seems violated - but this is just due to tapering anticipations at the FED level . Clearly we are in a super strong Wyckoff accumulation zone and there will be a break to the upside at $1.50 followed by a retest before we head to $3-$4.
Going long here is great .
I am not a financial advisor.
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Future note: Whenever a stock pumps +20% in a day and sells of entirely (think BBIG, ARVL, etc..) this isn't a squeeze play at all, but the markings of the final stages of the company. Losing support was not put into the idea which will be corrected next time.
@fantasyste, on Oct 3 after the release that they were considering bankruptcy, the price lost the $0.20 support entirely. Volume suggests too many trapped longs and no buyers. Longs are holding on for some WH focus on opioid addiction treatments but I wouldn't count on it. Best to close
fantasyste
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@rook2pawn, how do I know what volume suggests (in this case no buyers and trapped longs)? Always being curious about volume analysis, but not good in it... Feel free to suggest some books and/or authors. Thank you!