here’s the update and a BUY pattern …
A friend of mine alerted me to $RGSE (Real Goods Solar) today and how it was exploding .. folks, it certainly “was” and all the news feeds, social communities were all talking about it …
Knowing that I was getting into a bee hive of emotional energy the FIRST thing I thought was – MEASURED MOVES.
So, in the past a %227 (yes 227) bounce was the “norm” for this stock. Here’s some charts and note .. today, from the LOW to the HIGH was 227%. Is this stock going higher? I have no idea .. it was an AMAZING run today but look for LOW RISK entries where risk is ID’d. DO NOT GO WITH THE EMOTION – go w/ some sort of objective entry (fundamental or technical) that precisely defines your risk.
Chart 1: since IPO, note that “normal” corrections have been roughly 227 percent and, also note, it’s take a while for them to bounce that high. But 227% is the normal number …
Chart 2: note, today, the chart went from LOW to HIGH exactly 227% and no higher
here’s the 5 minute chart:
- note the LOW to the HIGH was 227% since that high, well it’s down 35%.
- note the orange AB=CD into the high.
- note the 1.618 price projection into the low at the close.
- note the square root projection using 1.27 from the low of the day. “bingo ..”
- note the blue rectangle area … try to long it there if your going to play w/ fire .. or just be patient. if it’s going to rock and roll a nice and CONTROLLED entry will occur and then you can catch this wave, if it’s real.
so, just showing you that the MATH that comprises the EMOTIONS of the MASSES doesn’t fail … know your measured moves during the heightened emotional time periods. They NEVER LIE.
rock on, ok?
Bart
