http://finance.yahoo.com/q/ta?s=XRMB+Basic+Tech.+Analysis&t=6m Where's the support and resistance? How do you set an entry point, a target or stoploss?
=========== Great title-i like it- '' almost perfect trend '' S& R on a penny stock[ stock under $5]??????Surerly you jest Not much S & R on a penny Wisdom is profitable to direct
It's an artificial runup. I use to know people that ran penny stock scams. They have a artificial runup with a set rate and target price while they send out newsletters and ads and other crap... Once it reaches their target and fools flood in they pull the plug and start distributing hard and fast! If you don't think you can solve their target price and time and beat them at their own game... Don't bother!
Your chart is showing that you cannot buy very much stock and, for sure, you could not sell it when you want to. Chart fails to pass any tests. So you need a good stock selector. Read HTMMIS by WJO'N.
On a trend like that, you just enter on the momentum. I can tell you with certainty, if you have any decent amount of cash in a low volume stock like that , when it turns on you, you will not be able to get out and you will Beverly stressed out. Only good if you are toying with less than $500. Waste of time really.
use the 20 dma as a measure of trend - if price goes below that then get out and re-enter if it moves above you have to be careful trading penny stocks like other posters said b/c of the liquidity getting out but also getting in - you can spend all day trying to work an order - you might want to look into using algos (i know ib has them) like iceberg