Long
Levels Of Resistance And Support On Possible Auction Date
OTC:BBBYQ
This is the daily candle chart.
This builds on DannyBrenards curve idea, with the possible date of June 9th being the announcement of a possible winner of a sale auction (news that might drive price action). The bankruptcy documents (provided by Kroll) have two possible dates of announcing a winner of a sale auction on June 2nd or June 9th. If the price on either of these two dates crosses the yellow curved line, then a possible move upward could occur by Danny's hypothesis (note: my curve is slightly different in position than Danny's). The yellow vertical line and horizontal line indicate the June 9th date and a stock price of .8622 would be the target to cross the yellow curved line. The first level of resistance and support is at .3173 (the long horizontal red line on the peak volume bar that does not seem to show in chart). The second level of resistance and support is the green block at .56. The curved yellow line is the next important price point to cross. The next level of resistance and support is the green block at at 7.031. The rainbow lines of the Fibonacci Retracement are the next levels of resistance and support. The final level of resistance and support is the green block at 30.06.
Other important levels of resistance and support from the 4 hour chart are 1.49 and 2.83 (these are not shown on the daily chart above). The 8 hour chart shows levels of resistance and support at 3.15, 4.18, and 5.87 (these are not shown on the daily chart above).
Other important dates that may drive price action are the two dates that the bankruptcy documents (provided by Kroll) say that a possible Stalking Horse Bidder (opening minimum bid) might be announced. They are either May 22nd or May 31st.
There is only a possibility of these auction announcements. There has to be bidders for an auction to occur.
Indicators used are the Support Resistance - Dynamic and the Visible Range Volume Profile.
It is important to have entrance and exit plans when trading stocks.
This is not financial advice. I am not a professional financial expert. You are responsible for you own financial decisions.
This is the daily candle chart.
This builds on DannyBrenards curve idea, with the possible date of June 9th being the announcement of a possible winner of a sale auction (news that might drive price action). The bankruptcy documents (provided by Kroll) have two possible dates of announcing a winner of a sale auction on June 2nd or June 9th. If the price on either of these two dates crosses the yellow curved line, then a possible move upward could occur by Danny's hypothesis (note: my curve is slightly different in position than Danny's). The yellow vertical line and horizontal line indicate the June 9th date and a stock price of .8622 would be the target to cross the yellow curved line. The first level of resistance and support is at .3173 (the long horizontal red line on the peak volume bar that does not seem to show in chart). The second level of resistance and support is the green block at .56. The curved yellow line is the next important price point to cross. The next level of resistance and support is the green block at at 7.031. The rainbow lines of the Fibonacci Retracement are the next levels of resistance and support. The final level of resistance and support is the green block at 30.06.
Other important levels of resistance and support from the 4 hour chart are 1.49 and 2.83 (these are not shown on the daily chart above). The 8 hour chart shows levels of resistance and support at 3.15, 4.18, and 5.87 (these are not shown on the daily chart above).
Other important dates that may drive price action are the two dates that the bankruptcy documents (provided by Kroll) say that a possible Stalking Horse Bidder (opening minimum bid) might be announced. They are either May 22nd or May 31st.
There is only a possibility of these auction announcements. There has to be bidders for an auction to occur.
Indicators used are the Support Resistance - Dynamic and the Visible Range Volume Profile.
It is important to have entrance and exit plans when trading stocks.
This is not financial advice. I am not a professional financial expert. You are responsible for you own financial decisions.
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