Do a google search to see what a bullish flag looks like. It looks like what ACTC has been forming since the beginning of yesterday. And this flattening in the .19's could be what we need to break higher by the end of the day , or tomorrow. If .19 falls. then .17 is the next level of support. But .19's have seemed to be holding pretty well. I'm an eternal optimist. Works for me. I'm looking forward to the break higher from the bullish flag.
PENNY-STOCKS DO NOT HAVE PATTERNS! I believe in this stock's science but at the moment it is way too risky, I've been in this situation before with everyone pumping on the board and I went along for the ride, happened to me in ALXA, then the FDA cites a safety issue, BOOM, stock tanks 50% and doesn't recover. Same thing can happen to this stock and if you don't realize that you're a fool. Biotechs with no pipeline are all very high risk/very high reward.
Any stock that traded multi millions of shares has patterns. Because it's mathematical. Technical. The data gleaned from th law of large numbers becomes more pertinent the larger the number being used to measure against.
Comapnies with low floats are much harder to trust, as far as technicals are concerned. But a company trading millins and millions of shares is a much more reliable stock to get a technical reading on.
You obviously don't know what you're doing. Just throwing darts on the board, are ya?
I don't see a true flag channel, but I see an exceptionally clear Bullish Pennant, and perhhaps even a Bullish Symmentrical Triangle (although it's really young). Wouldn't a Flag Channel need an equal or higher high from January 3rd?
This is what I see:
I only startted seeing the flag since 1/3. Draw a starit line down through the descinding tops from the begining of 1/3 to the end of 1/4. that line will extend into a couple of hours into 1/5.
Then draw a line connecting the descending lows from 1/3 to 1/4. Their parrelel, and don't intersect. There's the flag.
But over a longer period, since 12/30, I see what looks like a cross between an ascending and symmetrical triangle. . Positive patterns, all.
As I mentioned yesterday, ACTC could fall lower to 17 cents if 19 cents didn't hold. That happened. However I also wrote that we would probably cross above the higher border , or line of the flag pattern, and if that happened, that would be a good sign for a break higher, soon. That happened , as well, about an hour and 40 minutes ago, just before ACTC crossed back into the .19 cent range. Seems that you didn't have to be lucky, or good, to get that .17 cent range price. But it's all good. The pattern signal bodes well for those holding and buying shares today.
The share price, if it continues to stay in the .19's tomorrow, will break above the higher line of the flag pattern. This is a good sign if that happens. Because it won't be long before the share price starts moving higher again. once the share price breaks above, or through , the higher flag line, or border. This isn't a question of that being a resistance line. It's just a technical signal. I'll let you know tomorrow if I see it hapening. Also remember, that when the share price was in th 14 cnt range, that it spiked a couple of times to the .13 cent range, just like we saw with the spike into the 18 cent range towards the end of the day today. You can try to be quick and good and wait for a sudden spike down to pick up shares, but you might not be quick enough, and end up chasing the share price higher. Or you recognize that the technicals are beginning to work in your favor, and add at a good price in the .19's , and sit back and ride the share price higher.
Let's have some fun here, and plant our penny seeds now that will turn into dollars later.
Im betting .19's hold as you and others have pointed out. If it doesn't, Im wrong but long. In a short time .19's, .20's even .30's may be that basement level entry point that we collectively remember as the good ol days. I cant even begin to fathom what those who got in at .04 and .09 must be feeling. Good on you, whoever you may be!