Bigger Picture

Yesterday”s Livedesk recording seems to have caught only the last 13-15 minutes of a 50-minute presentation. I”ve asked that the error be investigated in case it can be corrected, and will report back if that is done. Regardless, I”ll revisit the topics we discussed… capitulation, pessimism vs. contrarianism, and the “January Effect.” We reviewed the following stocks in that context:

TRTC — Breaking under prior lows only this week, so its expanding volume suggests a breakout.
ATTBF — This week”s lows are just now revisiting the prior low, and trying to hold its support.
MCIG — More closely resembling potential capitulation, having extended below prior lows, but still not precluded from at least probing lower or even tumbling further.
ERBB — First close under .0176 since it became the pullback limit, but still within the range, so the weekend must be greeted in rally mode on expanding volume to avoid launching a new downleg.
GWPH — Probed recent highs intraday without closing above them, so the weekend must be greeted in rally mode on expanding volume to avoid launching a new downleg.
TKMR — Morning”s rally on expanding volume was corrected on weak volume, just need confirmation from another high-volume rally above yesterday”s highs.
MNTR — Singular big upbar appeared after a pullback that could still qualify as only correcting the prior big singular big upbar, but delaying its follow-through would undermine its credibility.
MINE — The singular big upbar makes the stock worth watching for confirmation, but doesn”t make that confirmation any likelier to develop.
VGPR — per request

Post any requests for other stock chart analysis to this thread in the Activity Feed. I”ll comment on any other interesting post-open action.

Enjoy!

REMINDER: TODAY”S LIVEDESK UNLIMITED BEGINS AT 4:45 PM ET AT THE FOLLOWING LINK. ALSO, MY CAPS KEY IS STUCK. WAIT… there, got it.
http://marketfy.com/product/marijuana-stock-technical-trade-alerts/livedesk/

P.S. I was asked in the previous thread to comment on “Capitulation” regarding ATTBF and TRTC. My characterization of “capitulation” would be an ongoing decline that has begun accelerating its pace, at an increasingly steeper slope, with progressively deeper bars… while the reactions are shallower and shorter-lived… culminating in 2-3 sessions of gapping down and extending sharply lower.

Both ATTBF and TRTC are only now breaking under extended supports from ongoing consolidations. So, I wouldn”t describe price action for either as even yet approaching “capitulation.” A bottom doesn”t require the downtrend to end in capitulation. By the same token, as I noted earlier today, a sudden, steep and substantial break under longstanding support rarely avoids extending down for at least 2-3 sessions.

I understand the enthusiasm for high-volume selloffs that suggest everyone who might want to sell has sold. Keep in mind that while falling prices do eventually inhibit selling too cheaply, bounces are inhibited by that delayed selling acting on bounces.

Following are my comments so far from today”s Activity Feed. Keep posting requests as needed. And don”t forget to join us at (new time) 4:45 PM ET (new time) for today”s Livedesk Unlimited.

STEV — Attacked my .12 target up to .119 last Thursday, and has been in decline since then. It”s just a temporary correction so long as .081 holds as support, which the decline is now attacking. Back above .098 would signal another attack underway on .12.

GPRO — Testing big resistance at 67.45, while entering day-10 of my 10-11 day up/down-crash setup. That pattern identifies when sponsorship like this leg”s buyers have stretched the rubber band so far that either it snaps back down sharply, or else breaks as newer more energetic buyers arrive to suddenly steepen the rally”s slope… Request this during today”s Livedesk and I can review the setup.

TRTC — NEW LOWS ARE NOT A BUY SIGNAL. Not even for a “Falling Knife” setup, not on the first day of aggressive trending.

ATTBF — NEW LOWS ARE NOT A BUY SIGNAL. Not even for a “Falling Knife” setup, not on the first day of aggressive trending.

TKMR — Very impressive volume on this morning”s bounce.

MINE — Very impressive volume on this morning”s bounce, which is clearly a reaction to favorable news that has impacted an extended oversold trend. Closing above .0073 would suggest a bigger corrective bounce underway, perhaps to .01. Closing today under .0073 would all but ensure resuming the decline to fresh lows.

BTCS — Testing significant resistance at .1075. Just failing to close above it would at least suggest dipping back to .0825. But the bounce from last week”s new low doesn”t fail entirely without also closing under .0720. Meanwhile. Closing today above .10 would allow a second consecutive higher close tomorrow to signal a bigger rally underway, next targeting .155.

GTAT — Gapping up tomorrow above 15 would at least form an Island of today and yesterday”s ranging, and be compelling for extending to fresh highs targeting 21. Otherwise, this current downleg is targeting 10.75-11.00

ATTBF — Hesitated somewhat upon testing .33 but ultimately extended through it to attack its next objective at .30 down to .313. Again, today is the first day of accelerated selling pressure, which is producing new trend lows, so it will not contain a buy signal.

GPRO — Noted earlier that my up/down-crash had reached day-10 of its 10-11 day count for stretching the rubber band to its extreme. The open”s gap up to a new trend high was reversed immediately back down into negative territory, a $4 swing. A lot of energy since then is being expended just to range narrowly above yesterday”s high. A fresh high by more than a 50-cent margin could break the stretched rubber band to extend the rally at much steeper slope. But back under 66-66.25 would snap the stretched rubber band back down, targeting the 56 area initially.

DATA — Testing 74.60 resistance today. Not closing above it would be likely to correct down to 69.85, which must hold to resume the rally targeting 82.40 and potentially 94.80.

Following are summaries of stocks discussed in order during this morning”s Livedesk. Be sure to watch the video to better understand the patterns and price action that contribute to the outcomes. Don”t forget to join us for tomorrow”s post-close weekly unlimited session.

VPOR – Continues falling from its test of .05 resistance. Must probe fresh lows before any recovery would be credible.
BRDT – Nothing bullish can be assumed until recovering .205.
MCIG – The bullish scenario would still spend some time consolidating here.
ERBB – Can”t take much longer before exploiting the repeated closes above .0176 support.
TRTC – Longstanding sub-.30 target being fulfilled, and not likely to be a bottom.
EAPH – No change to the pattern from ranging narrowly.
SPRWF – Close under .30-.31 has robbed rally of its traction for now, but isn”t necessarily bearish.
GBLX – Nothing bullish can be assumed until recovering 1.00-1.05.
MNTR – Parameters are visible for a recovery.
ATTBF – Still targeting .33 and .30 so long as .45 and .47 aren”t recovered.
CNAB – Ranging around 1.70 pullback limit but not holding through the close, so potential down to 1.28 before resuming the triple play.
TAUG – Now testing .0188 objective so back above .022 would be bullish.
VAPE – Still targeting 1.58 for having closed under 1.88.
GWPH – Recovery from 87 support losing sponsorship again above 90.
ANYT – Ascending Triangle has a little more room for noise.
TKMR, NLNK – Holding support, but would that be possible without the headlines?
Also requested: VIIC, NETE, HFC.
MBT, FEYE discussed later in the thread.
http://new.livestream.com/accounts/7617211/events/2865745

REMINDER: Livedesk begins at 10:45 ET, at the following link. Please keep adding chart analysis requests to the prior thread.
http://marketfy.com/product/marijuana-stock-technical-trade-alerts/livedesk/