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Forums > Penny Stocks Stocks below 5 > Penny Stocks on the Move Navigation:
  • SOUL(1) Replies

    Trade Ninja
    Bronze Member
    Join Date:01-10-2014
    El Paso, Texas
    United States
    Posts: 10
    Replies: 15
    SOUL1/14/2014 6:59:55 PM
    I have already played this stock and sold at a nice profit, but I am thinking about buying again.  I would love to hear your thoughts.



    Chart courtesy of StockCharts.com

    My first purchase was at a pullback to the $0.30 cent area and I sold if after 2 days for a nice profit.

    I am looking now for another entry point and notice a couple things:
    • It seems to be forming and ascending triangle...and ready to break out above $.60
    • I do see the looming major resistance of the 200 day MA...is the forming triangle enough of a consolidation to get SOUL through $.78? 
    • I notice a rising MACD that just recently crossed Zero--so it is not showing an over bought situation.

    I am expecting this stock to break out above $.60 as early as tomorrow.  If it does, I would sell it on the second or third day up (as there is such a large looming resistance in the 200MA).  I would then wait to see if another buying point presents itself.

    Anybody have any thoughts on this?
    • Update on SOUL(0) Replies

      Trade Ninja
      Bronze Member
      Join Date:01-10-2014
      El Paso, Texas
      United States
      Posts: 10
      Replies: 15
      Update on SOUL2/16/2014 7:35:51 PM
      I never did get into SOUL again.  I have been waiting for the stock to have a good buy setup, but it has not shown me any high probability entries.  I will wait on the sidelines to see what it decides to do.