WIthout considering the financial background of this company, I would not invest/trade in this stock.
1. We can see the price has already move from the support base of around 3.5-4.00
2. We are now 3/4 to the top and if reached it will form a triple top formation which is bearish
3. Question is we do not know how high will it goes before coming down for retracement. It can be below 8 or above 8 (triple top formation does not have to have all 3 price points on equal level to work)
Read somewhere insiders are disposing large amount of the shares, haha. WHY would they do that ? Something they know and we retail traders do not. If so, why are you walking into the trap? Hoping to buy high and price goes higher ?
There are better catches out there in the ocean
1. We can see the price has already move from the support base of around 3.5-4.00
2. We are now 3/4 to the top and if reached it will form a triple top formation which is bearish
3. Question is we do not know how high will it goes before coming down for retracement. It can be below 8 or above 8 (triple top formation does not have to have all 3 price points on equal level to work)
Read somewhere insiders are disposing large amount of the shares, haha. WHY would they do that ? Something they know and we retail traders do not. If so, why are you walking into the trap? Hoping to buy high and price goes higher ?
There are better catches out there in the ocean
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