This must be a video chart on THRA, one of these triple zero stocks that made a gigantic move this past week but today we really got hit by profit taking and so forth. Probably a little bit of panic selling mixed in there too. So, I’ve had some questions on it. We want to kind of just map out to see what will happen next week. Depending on what your strategy is, that’s going to dictate what kind of answer pertains you in this question. But If you’re a short term player, if you’re a day trader, just a scalper or something like that, the chart’s not looking too good for you.You know, if you bought up here, or here, then you should try to be out right now. If you bought somewhere in this region then you know you’re fine. Now if you’re playing this for the longer term swing trader, just the longer term story fundamentals then the chart is still bullish and there’s still hope. And now before you go and call me crazy, let me explain myself.

So, once again, if you’re a day trader, you bought up here then you should be already out of the chart now. the chart’s not looking favorable. Bu the majority of people you see, this is my take on this, kind of assume, that you are playing this for a longer term swing trade or for just the over all chart. So the reason why it’s still bullish is it’s still holding above this two moving averages right here, which is the 10 and 20-day, both we’re just going to call .0006. So .0006 is a key level of support going forward and specially next week. So, I’ll just draw a line over there that represents the.0006 and change that to green so everybody remembers this is a level of support. Now, the reason this is important is because, let’s say that the price comes down here, hovers around, before starting to head back up again. Well, this set of lows here is gonna be higher than this set down here. And then when we got to draw our uptrend line and connect the lows. We’d be able to do that, which is an uptrend and that’s what we want to see in the markets, there are uptrends, assuming you’re a long. So that is why .0006 is kind of the point where there’s still hope . If it comes over here and drops all the way to where it started, well, then, this whole bounce here was just false. And basically, it’s just a momental move and there is no substance behind it. But if this level, .0006 can continue to hold, that’s gonna make the chart show that it’s a higher basis form and we’ll have a beginning of an uptrend and sure it’s only a short term uptrend but all long term uptrends have to start in a short term somewhere.

So, on the other side of the coin, this one’s pretty obvious, in terms of where the resistance is. You can see here that the 50-day set moving average was basically crashing down on the price demand. Twice the price tried to get through it but couldn’t quite do it. So, .00017 being the 50-day set moving average will be the key level of resistance for the chart over all. With any sort of sideways or any more pull back days, we want to see this volume get as low as possible. This is not the most ideal thing to see, a big volume day like this on a pull back day. But this support did hold which is, and you know, price is the top indicator but going forward, you know, it’s either sideways or downward . In this action we want to see this volume get as small as possible. Now of course if the price is high then we want it to start to head back up or that’s when we want to see this volume bar get as big as possible. So, keep your eye on volume too next week, that will be a good little indicator of what’s going on with the chart.