Good lesson for myself. I spent the time studying this stock. Established key support levels. Created trading strategies on Sunday for this week. But I let all the hype from other stocks take away my concentration on these plays for this 1 stock. I didn't look at my own notes until today!!! I've been wondering around the market like a blind dog just oooing and awwing this and that... lol I look at RSHN from my etrade mobile app on my phone this morning and loving the morning panic. Something in my gut was telling me to buy at 0.0035-0.0038 as it was holding there pretty nicely but I couldn’t watch and had get back to work. I checked it later to find it bounce to 0.0057. My notes from sunday are below. DON'T FOLLOW OTHER PEOPLES STOCKS. STICK TO A PATTERN YOUR FAMILIAR WITH OR WHAT YOUR PRACTICING/LEARNING. This was my 60% upside to my risk level being at entry.
8/8 Press release of 3 new beverage products. This stock has been moving up sense the appointment of Frank Deangelo as CEO on 7/20 Which is 260% Mr. Deangelo is the retired president and CEO of applejam inc. (one of the world's largest Restaurant franchises) Over 120,000,000 in sales and 2500 employees before he sold the company. The NEW CEO could bring value to this stock. This is a weed play. Unknown shares float But needs a ton of Volume to fuel the moves. 70mil volume moved this 23%
Support- Fridays low .0047 the next range from 0.0035-0.0041 Which it consolidated for a few days.
Resistance- NEW HIGHS Every Day 5 day run so far.
Strategy1 - Dip buy to key support level of 0.0047-0.0035 But need panic as the stock seems to be over extended. Also need a ton of volume
Strategy 2- If this opens with a ton of volume Then it can easily turn into a breakout play with the right catalyst.
Goal is to make 15-25% with $2,000