Coin

[legion3pm]

i know this one done yah right a few months back GOODS and it looks like its on the move again. been kind of trading sideways since the start of aug. and now it looks like its moving up. closed over the 50 ema today. might be a short squeeze but idk.

[Goods]

COIN was a definate momo play about 6 months back, then it just sort of faded although it's a great product - organic fertilizer with long shelf life made from recycled food waste. Sounds like a tree hugging dream.

I wish I'd have seen this a few days ago as it came back down to support before the huge run in January! Oh well.

What looks like lit it is this: Converted Organics Announces Strategic Alliance with Gro Group Inc. to Service up to 15,000 U.S. Nurseries, Retailers posted Aug 26th.

In other words, business is picking up and they have a major distributor as a partner.

Chart looks great. The MACD shows the bear support getting thinner all the way down the past six months. It set up a nice base between 3.50 & 4.00 in August. Like you said, crossed over the 50ema that's been decent resistance since May. Volume hasn't been huge but it's a big increase over the sub 200k it's been having.
It might be worth starting a position even though it's popped $2 off lows as it could still run more or even squeeze the (very nervous) shorts. Then if it comes back down and keeps the 50 or at least the (now) support where it broke out, pick up more.
The idea is, you don't expect it to lose support after the breakout. If it does, the breakout was probably false. But if it holds that breakout line, you should expect a nice run upward. By buying near that support, you know it's a bad trade quickly if it slips back under, allowing minimal loss. But the upside potential is far better. You look to find the next resistance point where you would see the uptrend slow down. Could be the 200 ema, could be the last highest peak, could be closing a gap, whatever.
I remember picking some up @ 9 and someone on CNBC mentioned it, sending it to 14 in like an hour. That was nice even though I had a smaller position.

Putting on the radar for Tuesday. Nice eye Legion! Good work again.

[legion3pm]

i hate to chase this stock but the volume is really picking up and it just keeps on running. any thoughts on it?

[Goods]

Hey Legion, I'm with you. I had it on the watch list and got sidetracked while it made the big move. Then didn't want to chase it today.
Even though I've seen stocks run much bigger, it's almost doubled off last weeks lows so my rules say it's a no no to buy now. Gotta wait for a pullback. Even if it doesn't come, odds are much better waiting than not.
Look back and you'll see that after most big runs, it's had some ugly selloffs.
There's always another trade coming.