I’m buying and storing $TINY starting today. This may have to be a longer term hold to give it room to flex. Perhaps a replacement of my former $USU position trade?
Take a look at the $TINY daily chart below:
Price action has just been recovering from a correction. Is it ready for the next leg up?
Weekly chart below shows that price action has broken out of the intermediate-term downtrend line and is consolidating currently. I like to see the weekly price bar to stay within the Andrew Fork uptrend lines.
Monthly chart below shows that $TINY has come a long way from the top. Is it ready to head back up?
If nanotechnology is coming back, we may be seeing a bottom here.
Btw, this is why I bought $HW also. $HW apparently has a division that owns patents on certain nanotechnology. $HW is one of the company that make up the composition for ETF $PXN (PowerShares Lux Nanotech Portfolio.
What does the daily chart on $PXN look like below? My guess is that it is ready to take out the resistance line soon.
My 2 cents.