$FCEL Are we going to close with a hammer reversal candle stick for the day? I want to see if we get a confirmation green candle tomorrow...I'd like to see tomorrows close be higher than today or at least higher than the lowest point today. Since I see FCEL outperform the S&P500 in its trading range I'm not surprised today it went lower than the 50sma(blue line)... I've seen this type of move many times over the years and usually its a shake out move to grab all the stops and maybe even trap bears who short at the bottom to create a squeeze. One thing you have to think about is the market will go to where the volume is...is there are pending stop orders thet can bring it down to those stops to create high volume to buy large amounts of shares...for smart money. At least that's my theory....before this shot up to $11 after breaking $3..it first tanked in the $1 range....wasn't surprised. I usually see these heavy downard moves before they shoot back up. We shall see though.
@Caecias Yes we will have to wait. And anything can happen next. The S&P500 is already rebounding off the 50sma. So I wouldn't say this couldn't fly. But i wont say it will. I follow the mentality from Trading in the Zone...and know anything can happen, trust my edge and to be in an objective mind state. I allow the market to speak for itself as it goes. I'm in this at $1.11 btw. Holding strong.