CBIS - Cannabis Science - Page 56

Strong absorption at 0.17

Look at the "last size" and Bid size" in the snapshot below

First time trader here this is my vey first trade ever  in at 0.1681 @ 17,500 shares ....am i too late for any gains ?

I think you will be okay, dont worry. It should see a spike in the afternoon today and probably bigger gains on Monday. Hold tight, you may do well on this trade but dont let it fool you.

Your entry may prove to be an excellent one. Volume dried up as the price dropped from HOD to the current level and showing signs of a coming bounce.

Pennies are risky and each trade needs to be approached with a lot of caution and research. Enter only the best of the trades, dollar saved from loss is a dollar made.

.17¢ is the 38.2% retracement for the move starting from 2/14-2/29.  I took that move and projected it from 3/27 low and the 61.8% retracement falls right on that .17¢ price level which is also a mental barrier.  That projection also ends at .30¢.  Took fib time extension also from 2/14-2/29 and projected that from 3/27 and the 100% line falls on 4/11.  Also took a time extension from the 2/27 low to the 3/27 low and the 38.2% lands on April 12th.  I think thats enough confluence to indicate looking for a time reversal and price reversal around .30¢ anywhere from the 9th-13th (2days before and after the 11th) which would give this move about 13 days total from the 3/27 low.  Good luck to all just thought I would share how I developed my strategy.  No emotions attached pure strategy.  Let your profits run cut your losses short. GLTA

Nobody here can predict the future.  Philosuffer is very convinced about what will happen but even he has advised everyone that there still is risk it won't happen the way he's calling it.  

CBIS had a nice break of .17 resistance this morning but touched .18 and came down hard from there.  It seems to be a reoccurring event for the stock to jet higher in the first 10-20 minutes and then back off.  I'm still seeing some potential for it to chug higher today, but I've lost my lofty expectations for "huge gains" on this one.  If anything, this action seems healthy to me and not very characteristic of a pump and dump stock.

I'm still waiting for Monday, but I don't think it's going to skyrocket to $0.60.  I'd be happy getting out above .18.
 

Quote:

Originally Posted by PennyHustle 

First time trader here this is my vey first trade ever  in at 0.1681 @ 17,500 shares ....am i too late for any gains ?

Thanks for the advice i will hold tight till the 11th and see how this turns out

Quote:

Originally Posted by Philosuffer 

I think you will be okay, dont worry. It should see a spike in the afternoon today and probably bigger gains on Monday. Hold tight, you may do well on this trade but dont let it fool you.

 

Your entry may prove to be an excellent one. Volume dried up as the price dropped from HOD to the current level and showing signs of a coming bounce.

 

Pennies are risky and each trade needs to be approached with a lot of caution and research. Enter only the best of the trades, dollar saved from loss is a dollar made.

On the 5minute 2day chart this am gapped over .17¢ now we're experiencing a text book throwback that a lot of people look for an entry point on the 5minute.  This is what my chart looks like.

Yah, I see the potential and posting what is possible, does not mean it will happen.

I will be happy to find such opportunities with potential, many of them may not reach the potential but if some do that will be great.

As long as you dont incur a loss but open yourself for such huge potential, sooner or later something will click and makes good money.

I entered 200k shares at 0.09, so if I exited this morning, that would have been close to 100%%  gain. Other 138k were entered at 0.105 (it is sitting at a 60% profit at the moment). So, overall I am doing well on this trade. One has to evaluate a stock if it is a good buy or not at the moment regardless of losses or gains. When I think that way, I still see a lot of potential for the next couple of days and hence I am holding it.

So, it did meet my initial expectations already. However, I really hope it goes up at least a 50% from here so that everyone makes some money. Bottom line, always be happy if you can exit a trade without a loss because at least you exposed yourself for a great opportunity to make some money. It will workout eventually as long as you can preserve your capital.

0.165 is such a strong foundation with huge traded volume that, I cant imagine it dropping below that in these conditions. That makes 0.168 price level very attractive given the fact that next week it will receive a lot of attention. The path of least resistance is upwards. Volume dried up a lot on this drop. Sooner or later someone will decide to buy big volume and hold over the weekend, that will cause a quick spike back to 0.18 level.

Getting ready for big spike, I guess. 0.172 at the moment

After the past couple of days of +10% swings, today's action is like watching paint dry.

Quote:

Originally Posted by RagingBull 

After the past couple of days of +10% swings, today's action is like watching paint dry.

I have a feeling that the last hour of trading will have huge volume as the markets arent open tomorrow.

Some volume coming in now.  I'm not positive, but I think I smell accumulation.

Been reading this forum for awhile, finally decided to sign up.  Nice Meeting yall.  I have 10,000 shares bought at 8 cents. 

So here is a chart of today, still 1 hour trading before closing bell.

Anyone else seeing that 1 MIL buy volume come through at approximately 3:39 ET?  I'm thinking it's a glitch with E*Trade because the stock price went down after.

Quote:

Originally Posted by RagingBull 

Anyone else seeing that 1 MIL buy volume come through at approximately 3:39 ET?  I'm thinking it's a glitch with E*Trade because the stock price went down after.

You mean this ?

Well, the day started with impressive 9% gain in first 5 minutes. I thought its on its way but then disappointed. The consolation is that 0.17 level was broken and now it can move through it more easily. Also, the day ended still in green after that 14% gain yesterday. I will take any green over red.

Given the price action today without any squeeze, I am cutting down on those huge expectations beyond 0.40 etc. 0.24 is still certainly possible in the next couple of days as the exposure increases due to publicity over the weekend. At this point, I recommend you not to be greedy and bank profits on next couple of days as appropriate. Market is closed tomorrow for Easter holiday.

Have a great time with your families.

Well... if you're showing it on ToS and I've got it on E*Trade, what's going on?  A 1 MIL spike in volume should have pushed price up, not down.
 

Quote:

Originally Posted by 0232216 
You mean this ?

 

Quote:

Originally Posted by RagingBull 

Well... if you're showing it on ToS and I've got it on E*Trade, what's going on?  A 1 MIL spike in volume should have pushed price up, not down.
 

 

Even better: A Dutch bank & broker in Holland, Europe  

Thanks for the info Philo, you 2 ! 

A close over .18 would've been nice. Didn't get it.  Looking for rotation now.