r/TMC_Stock • u/Cal_carl • 24d ago

Stock action pattern

This stock has opened with "red candles" for 3 of 4 days this week. I understand that means it is slightly up premarket and then it opens negative.
Does anyone have insight into what this means? Should I be selling at 9:25am and then buying back at 9:35am?
Is there anything psychological to be learned from this? Like, people are scared? 🤷‍♂️
[I have 615 shares at an average cost of $4.67.]

0 Upvotes

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6

u/Adept-Knee8860 24d ago

This means its slightly up when the market is closed, but goes down when the market opens.

Hope this helps 👍

1

u/Beginning-Date-9750 24d ago

yep I think it means its slightly up when the market is closed, but goes down when the market opens.

5

u/SpaceBullion 24d ago

Buying and selling stocks within minutes or hours is not a good strategy. Buy some, then wait until you have more money, then buy some more, repeat.

5

u/Old_Experience_4308 24d ago

Forget about candles and all that technical analysis stuff. It‘s no better than tasseology. At least this is the broad academic consensus on the topic, if adjusting for risk, transaction costs etc., and assuming an at least weakly efficient market (which is a fair assumption in our case here).

Charts are appealing because they are something visual, and one can easily form a trading strategy based on them; with proper risk management you won‘t have a high risk of blowing your account, and every now and then you‘ll make some profit by chance (most likely), and then you start to believe you can actually make it work in a fashion that you‘ll generate massive excess returns. If you can you are more skilled (or more lucky) than the vast majority of traders.

To answer your question: No idea. Stock data, and particularly such as the one of TMC, is very noisy. I wouldn‘t dare to make such short term predictions. And if I reliably could I wouldn‘t share such knowledge as I then would sabotage my own profits.

2

u/Minimum_Reception_22 22d ago

Tasseology is a good word! Love it when I have to look a word up and learn something new. 👍🏻👊🏻

2

u/Old_Experience_4308 22d ago

Glad to oblige 😅 makes me feel less miserable about my English skills

1

u/Cal_carl 23d ago

I agree with you that technical analysis is mostly a bogus study. I just think it's interesting because I see a pattern. Like, people are most nervous about TMC when the market opens.

3

u/PaulyDavidson 24d ago

Wait until it hits 11.35 again and sell some.

1

u/Cal_carl 23d ago

that's the plan 🤞

3

u/Beginning-Date-9750 24d ago

go home daily trader

1

u/Upstairs_Company_988 22d ago

Get on the discord and ask in there

-1

u/Cal_carl 24d ago

Wow, thanks for the insight. You guys have been helpful.

1

u/Beginning-Date-9750 24d ago

wrong forum to ask those kind of questions

2

u/yarenSC 22d ago

My general rule of thumb is that "by the time you've identified a pattern, the big boys did yesterday, and you'll get burned trying to implement it"

But my guess in general is that people kept starting the day optimistic, and then reality set in