My buy signal for Pacifica, Inc. appeared as early as February 7, 2019. That was the time when the price moved above the 10SMA and MACD crossed above the signal line. Unfortunately, I ignored it due to a relatively low volume. In short, I did not activate my speculative play for PA. Wait a minute. Was it really an unfortunate event?
I don’t fret when I fail to activate my speculative trade setups because there are opportunities to ride on the momentum if you know what to look at and where to look. By using my Price-Volume Distribution chart, I quickly noticed an opportunity to enter (though late) a new position.
Around 10AM, I noticed a surge in volume, especially when 8-digit chunks of volume were printed around 10:02AM, 10:12AM and 10:13AM. The price went up super quickly from 0.043 to 0.050 during those time periods I’ve mentioned.
PA is now trading at 0.057-apiece as of 1:46PM Manila time.
Price-Volume Distribution
VWAP: 0.0504
Most Traded Prices: 0.053, 0.052, 0.054, 0.051, 0.05
Most Voluminous Prices: 0.053, 0.052, 0.054, 0.05, 0.051
The most active price range in the first half of trading today was between 0.05 and 0.054. Even if PA is already at 0.057 as of 1:46PM Manila time, there is still a chance for PA to play actively within that range I’ve mentioned this afternoon.
If you’re going to ask me how’s the market depth of the top 5 volume on the bid-ask spread, I would say that there’s a weak market depth. This means PA is still subject to showcase erratic price fluctuations this afternoon.
Top 10 Players
Trading participants of PA with a 100% Buying and Selling Activity as of Feb-13-2019 at 12:00PM:
8 out of 62 participants or 12.90% of all participants registered a 100% BUYING activity
17 out of 62 participants or 27.42% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 0.0506
Top 10 Players’ Selling Average: 0.0506
What to Do Now?
If you don’t have your own signal-generating system yet, it’s best that you stay on the sidelines of PA for now. Observe how it moves. If you’re building your own strategy, apply it on PA and see if you get a relatively satisfying accuracy rate.
If you are an experienced and high-risk trader, buying above 0.055 is not a wise thing to do. Again, the market depth is very weak. It’s best to wait for PA to retreat below 0.053. I said “wait” and not “buy.” If you missed the train while it was below 0.050, now is not the time to chase a stock to the top. Otherwise, you’re only setting yourself up for a “whipsaw of a lifetime.” You know what I mean if you’re an experienced trader.
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