UpSnap snapped up nicely this morning, but then turned around and is now under some pressure. Since the stock has now been trading for less than one week, I guess it’s a little early to draw too many conclusions.
This hourly chart leads me to two conclusions, both of which I am quite emphatic about. 1. The 38.2% level at $2.70 has now been broken. Therefore, the ideal level around which you can accumulate this stock is the 61.8% level, or $2.38. For those with a trading mentality, that is the perfect level.
Second conculsion: Since it is early in the game, and we don’t know exactly where the support level is, I would make the $2.30 level an absolute drop dead stop loss level. If the stock trades that low, the 61.8% retracement will be violated and from a technical perspective I would not be in this stock. Sell and take your loss. Then we’ll keep an eye on it, look for firming, and go back in when the stock is ready to behave better.
strange behavior of UPSN. Big spread and frequent sales much higher than ask. Is the $2.70 level a breach even though it’s intra-day? BB
Editor: Just after I published today’s BLOG it turned around and went straight back up over $3. Like I said, Mr. Toad’s wild ride. In my view it has behaved quite well, albeit over a very short period of time. The longer the period, the more reliable the technical analysis.
UPSN Was unable to trade the stock today with Ameritrade. They stopped trading it on friday, problem with stock certs. Anyone else having problems with trading.
Editor: No doubt, it relates to the very limited supply of stock. This is one of the reasons I believe it could trade very well.
What do you see for long term investment, long term being what 1 yr, 3 yr 5yr?
Editor: I have been looking at this one as a 3 to 6 month idea. I don’t have a comment on the long term yet, but will at some point in the future. For now, I see it as a good trading opportunity.
This stock has been quite as of late. It would seem any time it makes a presentation we see new genuine interest. Are you aware of any plans for the company to get the word out…ie. advertising or press releases? It would seem its just sitting waiting for some news….as am I!
Editor: Companies tend to become very quiet during the holidays- the old adage applies here- If a tree falls in the woods and no one hears it, did it make a sound? If no one is watching and listening, wait until they are.
“Comments for long suffering shareholders of Family Room below. ” “I currently own no shares, but might punt and pick up a million or so at about the $.02 level- if it ever gets back there.” You’ve got a chance, 20% dicount, hope you got it. felt like informing you, as you keep it up for me
Editor: I am waffling since the volume is dropping steadily since those couple of big days. However, if I decide to invest, I will certainly let everyone know at some point. With 16 blocks opening today, it might be the day.
Is this a real company or a \”wannabe\”. More than 50% drop in value since Dec. Looks like they have some traction on their space but very little trading going on. Any insights?
Â
Editor: As of right now, it would appear to me to be a \”vapor\” company. Good management with some good ideas, but needs to execute.