MREY - A Question for Penny Stock Pros
Current time - 10:09 NST - I've been working on getting serious about day trading. Spoken with a few about strategies and indicators. I've learned a lot throughout this short period, however one of the best ways I learn is through asking. Following my first penny stock MREY.
Initial Observations:
-Level II indicating strong demand from the bid size
-Spread between ask and bid recently hit 0.0
-Neutral trader sentiment among group chats
- Price just exceeded EMA [9]
- MACD blue close to cross orange [30m,45m,1hr]
Initial Hypothesis:
-The price will rise from its current 0.045.
Questions:
-Should I use shorter time frames given the stock price?
-Do penny stocks have similar trading behaviour as regular stocks? Meaning, when there's bullish sentiment on groupchats prices tend to drop, so are penny stocks as closely followed by industrial algorithms?
-What's an average order volume that could cause price movements given that the daily trading volume is less than 250k? Either sale or purchase?
-General Question: Are there any traders that focus on the Canadian Securities Exchange specifically?
Initial Observations:
-Level II indicating strong demand from the bid size
-Spread between ask and bid recently hit 0.0
-Neutral trader sentiment among group chats
- Price just exceeded EMA [9]
- MACD blue close to cross orange [30m,45m,1hr]
Initial Hypothesis:
-The price will rise from its current 0.045.
Questions:
-Should I use shorter time frames given the stock price?
-Do penny stocks have similar trading behaviour as regular stocks? Meaning, when there's bullish sentiment on groupchats prices tend to drop, so are penny stocks as closely followed by industrial algorithms?
-What's an average order volume that could cause price movements given that the daily trading volume is less than 250k? Either sale or purchase?
-General Question: Are there any traders that focus on the Canadian Securities Exchange specifically?
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