I would want to see it break that 2.70 resistance and then see it start to bounce off of it (turn 2.70 Into support). When It passes 2.70 and pulls back, Bounces off it and shows upward pressure, That would be an entry point for me. When it starts to hit 2.85-2.90 that is confimation and will then very likely rise to 3.50.... That would be a great play! If it was to continue your next exit mark would be a dollar per share gain going from 3.50 - 4.50 ish. that will definetly cause short covers and if it catches momentum like that it will be a sky rocket stock. The time line will Definetly be longer then the drawing i put on the chart and Its not defint that its going to do this anytime soon. (but is liekly to) and when it does, It is very likely to follow these R&S lines.
SO, the levels you want to watch for:
1) Break over and hold $2.70
2) watch for bounce off 2.70
3) Wait to see it confirm at 2.80-2.90
4) Enter around 2.80- 2.90
5) First exit goal $3.50, Stop Loss 2.70
6) If passes, pulls back and bounces (or Hold strong) on 3.50 then:
7) Enter (or hold through) next Exit Goal is $4.50 Stop Loss around 2.90 - 3.00 (that is a pretty high Risk but High reward: Win/Loss is 2/1 or $1 Win to $0.50 loss)
8) Next Resistance sits around $6.20 and that is the stocks High for around September 20th
These are just what I have come up with and the Time Line could be much longer then what is depicted
(and wont be today) IMO it is likely to start its run tomorrow simply because its lost so much today....
Actually, IT MIGHT BE STARTING ITS RETURN CLIMB NOW
$American Virtual (AVCT.US)$ @Dons hobby
Dons hobby : I appreciate you my friend. You always have the indepth analysis bud. I will continue to HOLD and see what it looks like when it gets to that $3.50 $4 mark. I appreciate you my friend.
M1ke1229 Dons hobby : Don you made it back in? I'm glad
Dons hobby M1ke1229 : I told you I was gonna get back in just didn't know WHEN lol, like everyone else.
But at 2.10 I feel pretty good about it for the next few days anyway.
The BIZ OP : I just tried to buy an Call option on it (because its already at its low and It crashed today, But Td Ameritrade wouldnt submit the order
Dons hobby The BIZ OP : Something is happening no doubt.
Dons hobby The BIZ OP : What do you think the reason is BIZ ?
The BIZ OP : lost so much today got exhausted, shorts might be trying to cover now which will cause it to bounce up a little bit, it's on everybody's radar and everybody's waiting for it to jump and are probably considering this to be a good entry due to this being a strong support
The BIZ OP : if I was to guess, and this is just a guess it will probably bounce up tomorrow. but I need to stress to you that I am wrong a lot