I've never seen a stock consolidate after a 500% parabolic move up, talk about bizarre. You would think they would start dumping and panic selling on the 1st or 3rd 1m red candles or squeeze higher. Caught me off guard in the sim.
That means the bulls are strong and still in control. The bears are unable to do anything. Watch out for the trend continuation, this looks like a typical bull flag...
Yep, that would've made sense if it squeezed another 100%-500% but it dropped off quite a bit after that last red candle on the chart. Retested high but failed miserably before going timber.
That shows what impact a press announcement can have: https://www.marketwatch.com/story/astrotechs-stock-rockets-6-fold-on-heavy-volume-as-company-develops-breath-test-for-lung-infections-2020-03-25
Yeah, I figured it had to do with the catalyst that attracted a wave of newbie traders trying to buy on pullbacks after missing the big move. In the end, the bears won over. Lots of dumb money thrown in. I would've shorted that stock back to zero if I was on my real account.
That's what I do bruh. I only trade low-floaters. $1-$10 range due to me having small account size and need to grow the account quickly . Although, lately I been looking more closely on micro penny stocks . I seen quite a few of them run up lately from a few cents to above $1 and wondering if I should just hold one of them as a lottery ticket. Due to the covid-19 the smallcap p&d's have been way more active lately.