Big volume dump here today, the important level IMO is that .008c support from the 28th. Indicated by the arrow there, when the stock sold off from the highs, buyers managed to come in and absorb everything that came out at that level. Technically this is what longs want to see, a previous support level holding.
SFOR deflating more today, seeing a lot of newbies who read that other site getting a real shock but the fact that the stock is not +5000% like some strangers promised.
Im getting a few questions over PM about this, so I will just answer here. Many times you will see penny stock ramp higher on speculation. The cheerleaders come out the woodwork and the generally uninformed or late comers then echo everything they read as long as it conforms to their bullish views. The truth is that 95% of the time most penny stocks will fall back in the short to mid term. What you need to do here is see that a previous support holds, which is this level here. If that Aug-Sept breaks, then its pretty bearish because it means the previous buyers are not around anymore.
Well thats a wrap for the week! I think SFOR did a bit better than expected, the stock is holding slightly above previous support levels which can be seen as a good sign:
Price and moving averages has closed below its Short term moving average. Short term moving average is above its mid-term; and above long term moving averages. From the relationship between price and moving averages; we can see that: this stock is NEUTRAL in short-term; and BULLISH in mid-long term. A potential breakout play above $0.0169.
