VXRT volume faded again. Another red day and now mid range from the big spike 3 days ago. Panicked in the morning and just didn't have enough juice to bounce. did have a slight uptrend entering into mid-day but nothing exciting still closing red on the day. Todays low was at 3.90. It has proven that it can bounce big in the recent past so I will stay optimistic that it can bounce tomorrow Only if volume can increase at lease to the 700K range. So will look at todays low @3.90 for a nice bounce if it panics tomorrow morning at the open. If volume does not come in I will not bother.
PEIX volume increased today from yesterdays in the 7M range. Volume today was 11M which is a good sign. Price action was kind of choppy all day and some ups and downs but generally side-ways action. What stood out to me was in the afternoon. In the afternoon it began downtrending consistently and when it got to the 2.40 multi-month support level range it bounce about 70c in just 4min. This means that 2.40 is now clear support level and that it has proven that can bounce nicely. Which now makes this play even more interesting. Has the news that was released yesterday and today with trump raising the ethanol use, Has the increase volume, Has proven that it can bounce off good support. Now will be patient for the time of day to be ideal which is at the open. Looking for a Morning panic and a bounce off support at 2.40ish for a 50c to $1 gain. Looks like theres strong resistance in the low 3s but with all this good news being released & volume increasing looks like it may be able to test and break that resistance tomorrow.
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