It's a personal opinion of mine that psychological levels, whole number resistance and support, should have this much control over price action.
Psychological levels have the most effect when there's extremes of emotions. I feel it's rather self-explanatory.
It's either going towards zero or it's getting bought to prevent it from hitting the pavement.
The variance in price alone is a clear indicator its in deep trouble while it was just downgraded to BB.
Previous low on charts of $17.60 is notable, while $20 pertains to psychological significance.
Below this, I see little more than psychological levels.
$10, double digits. $5, where select exchanges consider a stock a penny stock. $1, where the rest consider it a penny stock.
You can label a ton of this chart a deadcat bounce here or there.
Please add thoughts. I didn't see a Fibonacci ladder helping much because the price action was too chaotic.
DYOR/DYOC.
Psychological levels have the most effect when there's extremes of emotions. I feel it's rather self-explanatory.
It's either going towards zero or it's getting bought to prevent it from hitting the pavement.
The variance in price alone is a clear indicator its in deep trouble while it was just downgraded to BB.
Previous low on charts of $17.60 is notable, while $20 pertains to psychological significance.
Below this, I see little more than psychological levels.
$10, double digits. $5, where select exchanges consider a stock a penny stock. $1, where the rest consider it a penny stock.
You can label a ton of this chart a deadcat bounce here or there.
Please add thoughts. I didn't see a Fibonacci ladder helping much because the price action was too chaotic.
DYOR/DYOC.
