MCHM

[rocket8]

250,000 BUY ORDER AT $0.45
ON LEVEL 2 NOW

[stocky]

Seems like a 3SF candidate for tomorrow

[eliteG]

what a move!    Way to go Ramsburg.  (Applauded)

[stocky]

    +9696% of avg. daily volume

   Now thats called 'Volume on Fire'

[TRUNK]

+9696% of avg. daily volume

Now thats called 'Volume on Fire'

lol.. yes it is

[rocket8]

52 week range says $1.52
Is there upside here?

[Ramsburg]

52 week range says $1.52
Is there upside here?

Depends on your time frame...

But the 52 week high is not a technical value, its just a default number with no technical indication.

The long term relative high is $1.89... the mid-term relative high is $0.90... but this numbers don't give any strong technical indication...
The big number, in my opinion is $0.52, which I had explained on the other post.

Probably this figure will be tested tomorrow, and then you have a clear signal:
- Mid-term breakout

After that, it's just a momentum play like others we've watch before... so: momentum strategy should be applied.

I got to get some decent sleep today

Good night guys !

[rocket8]

here is a dumb question but being a "1" point newbie i can ask it. haha

when the price gets to the $0.52 barrier why doesn't someone long buy shares to get over it.  is such manipulation possible?

thanx guys.

[AussieTrader]

In short the answer is Yes and No ha ha. The price area Ramsburg refers to is resistance and the stock needs volume to crack it (more buyers than sellers), once it breaches resistance then more buyers will flow in as they will see it has 'taken out' the sticky area. Thus momentum is created and continued.
1 person I guess could sway things if he had a big enough order hovering behind resistance (like obscenely big), but that usually doesn't happen it is a swathe of buyers who make the difference not one. That is supply and demand.
Mike

[Ramsburg]

here is a dumb question but being a "1" point newbie i can ask it. haha

when the price gets to the $0.52 barrier why doesn't someone long buy shares to get over it.  is such manipulation possible?

thanx guys.

It's possible... but this move looks genuine... and the $0.52 value is not like a «TV» ore «Newspaper» number, I don't believe the general public even know about the importance of that value... For most traders the $0.52 price level is just a number...

[Athakinu]

Hi there
MCHM went up to 0.56 this morning but is now at 0.44.
Do you think it is just profit taking or what do you think is going on?
Time to buy maybe?

[Ramsburg]

As I said, the $0.52 is a resistance level, so I believe it's normal to watch some big fight over this levels...

I'm holding it

[AussieTrader]

I sold around $0.5 as resistance sent it packing. It is now at the 200ema on my 5 min chart could be re-entry opportunity

[Ramsburg]

Looks like I have made a mistake with this one... 

I'm not liking what I see here... This stock is not doing my plan, so I have to stop this position, and protect at a 20% profit, it's not much considering the high of the day... but sometimes we just have to accept what the market want to give us.

Looks like the $0.52 was really a hard resistance... I don't mind to take another jump on this stock, later, and at an higher price.

I'm out of MCHM !

good luck guys !

[TRUNK]

hah.. I left this morning and it was still in the .50's  just came back and well you know the rest.. lol ended up losing 2 cents a share on this one (small bet).. Learned a good lesson though, Don't leave home if you own a penny stock..