Yeah, it was an ugly day for sure. Sell-off into the close and closing right at the low of the day, just 2 cents above 50-Dma. If there is no substantial news tomorrow morning (and I'm not talking about a fluf PR like the recent PR's they keep pumping out, but substantial news like DHL contract), then this thing could open tomorrow with a gap-down opening below the 50-dma, which is a serious technical flag, and could spell the end of the "Intel uptrend" for quite a while. Stay tuned Mr. Puppies, and put those Vegas plane tickets on hold.
The range between the 50 and 20 dma has now squeezed to $5.98 - $6.52, and will squeeze tighter with each passing day. I neglected to mention yesterday that there has been a bear wedge forming ever since the day of that dragonfly doji, so that creates a bearish continuation pattern on the daily chart. And the breakdown of that wedge would happen to coincide with a breach of the 50-dma. The stars appear to be aligning here for the Bears. But so far the trigger hasn't occurred so there is hope. But I don't like to see multiple bear setups on the chart. Makes me nervous as a long.
Over 200 companies presenting at the upcoming Roth Conference agree to webcast their conference over the Internet fir the benefit of current and prospective shareholders. 200 companies!
And yet Vuzix chose not to webcast their conference. This is just plain wrong. Sorry, it's just wrong. Slap in the face to current shareholders, and not to bright to shut out prospective shareholders who research the Roth archives. 200 companies can't be wrong. If anyone on this board is close to VUZI management, please call them and ask if they will change their mind. They really need to work on their transparency.
Event: ROTH Conference
Date: Monday, March 9, 2015
Time: 9:30 am (PT)
Paul Travers, President and CEO of Vuzix, and Grant Russell, CFO of Vuzix will be discussing the Company's business operations and growth strategy during the presentation and conducting one-on-one meetings with investors.
Cane, all the trading between the 50 and 20 day moving avg is strictly noise. The support and resistance has been defined. Again, my interpretation is 65% chance of breakdown below the 50-dma and consequent $4.80 gap-fill/100 dma target. That's the best I can do for now.
The key metric to watch is the 20-dma, because the Bulls have been turned away twice now from that resistance level, establishing a pattern. The 20-dma is currently $6.55. But time is of the essence because the 50-dma is rising fast and currently sits around $5.93. Multiple times, the Bulls pushed the Bears back at the 50, and the Bears stopped the Bulls cold at the 20. As those two moving averages converge into one, I expect some fireworks as the tension gets resolved. I'm leaning toward a breakdown of the 50-dma, rather than a breakout to the upside. The reason being that the 50-dma was breached intraday not once but twice, and that's usually a shot across the bow. While the 20-dma (mid- bollinger) held firm to the penny.
Again, no guarantees. Confidence level around 65%.
I'll have to research that one. Lol.
Btw, why did Yahoo delete my post to Cane about my technical calls. Oh well.
Tahiti? That's a new one. You don't want to stick with the time-honored Yahoo board tradition of Vegas parties?
Welcome to the jungle :)
The 720? Ohhh kay, thanks puppies. I thought it was something actually important to investors, like confirmation of a multi-million dollar DHL contract. Oh well. Maybe next time.
What does website say? It doesn't load on my iPhone. The only website I have trouble downloading on my iPhone, and yet I trust these guys to build smart glasses. I must be crazy.
If it closes below $5.87, it will be the first close below 50-dma since last year, and will likely accelerate profit taking. The bulls were turned back yesterday at the 20-dma (mid Bollinger) to the exact penny. That was proving ground of resistance which I had laid out last week. I'm not too optimistic about the price action right now. I think you'll more than likely get your $5.50 buy target if you're patient. No guarantees.
Okay, I'll give you a second chance, but you better tow the line. You don't want to miss this Vegas party. There's going to be open bar and strippers and a donkey spray-painted green and black.
Puppies, keep it up and you are no longer invited to the Vegas party when this baby hits $200 in 6 months. Boo Yaaa!!!!!!
Wait. What? I thought you were the one who expected the warrent holders to sell. It wasn't my thought. I was just responding to you, when you said:
"If Nvidia is partnering with Vuzix the warrant holders are set up to take advantage & sell into the volume & PPS"
$6.68, that's lateral resistance and mid-bollinger combined. I'd like to see it retake the upper bollinger before we can declare everything is safe. A close above $6.68 could easily move it above $7.00. After that, look for $7.40 resistance, at upper bollinger.
Actually, when I saw it working on the dragonfly close I bought a little bit more based on the technical reversal. You don't have to believe me. I don't care.
Travers was quoted in the press release today:
"..We strongly believe in the value of share ownership in the Company, which is why CFO, Grant Russell and I have also decided to exercise all our warrants into common shares with our other warrant holders."
Actually, this push off the 50-dma is a good sign. Let it consolidate above that moving average. Even better.
You'll see. That shot across the bow this morning meant something. Give it time to break down. We'll look back a month or two from now and mark today on the chart as the day it turned.