This would appear to me that there will be a pullback to about the .54 area. Maybe .57-.60.
Depending on if it gaps on open again. In which case .77 could be the new lower support if
it drops during consolidation.
If you notice the downtrend side: June 5, 7, and 14 the stock dropped below .77 (5th),
.54 (7th), and .39 (14th).
Now compare to the uptrend side of the saucer: July 2nd the stock gapped up above .39,
and even with consolidation closed at (or about) .54
Then July 3rd (Today) the stock gapped up again passing the .77 mark but failed to stay above on close.
Currently at .79(ish) which is good news. That is a post market number though.
the last thing to note is July 1, 2, and 3. Open July 1 was slow but trending up. Consolidation with low-volume.
July 2nd is the gap up, consolidation with low-volume while trending up.
July 3rd (Today) 2nd gap up, but the volume pattern has completely changed. It did not trend up.
There is still a slight chance .77 becomes the new low resistance line. With any luck a gap up will push us over $1.00
Depending on if it gaps on open again. In which case .77 could be the new lower support if
it drops during consolidation.
If you notice the downtrend side: June 5, 7, and 14 the stock dropped below .77 (5th),
.54 (7th), and .39 (14th).
Now compare to the uptrend side of the saucer: July 2nd the stock gapped up above .39,
and even with consolidation closed at (or about) .54
Then July 3rd (Today) the stock gapped up again passing the .77 mark but failed to stay above on close.
Currently at .79(ish) which is good news. That is a post market number though.
the last thing to note is July 1, 2, and 3. Open July 1 was slow but trending up. Consolidation with low-volume.
July 2nd is the gap up, consolidation with low-volume while trending up.
July 3rd (Today) 2nd gap up, but the volume pattern has completely changed. It did not trend up.
There is still a slight chance .77 becomes the new low resistance line. With any luck a gap up will push us over $1.00