I've been looking at this stock's activity and iit looks like a good opportunity for a quick bounce... just looking at the 35 area... I follow this guy at Trade For Gain and he's also buying http://www.tradeforgain.com/ thoughts?
A triple bottom? You're mad aren't you? Three lower lows -that's what you've got here -some might call that a down trend...
Yep, down to 911 levels now. Been trading this thing for the past month. Time to get positions ready to go long for the long haul. Going to laugh my ass off when the dividend doesn't get cut, or if it does - the stock doesn't go down (or goes down from higher levels). Good Luck!
forestfire, with all due respect, I don't see three "lower" lows.. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1723079"</img>
looks like its dying to start trading under 30....probably bounce off 28 before going to 25.... The 30-35 range is 5$ and once it cracks the 30 support it will trade down 5$....thats my recollection of ta principles from the magee/edwards tome.FWIW...
I thought BUD would buy them and name it Bus(c)h Citi. Now that's something you can never have enough of.
Now, that's funny to hear all the technical talk -- don't forget that fundamentals come into play sometimes... have you done a valuation for this stock? $5 bucks? really? before it becomes Microgroup it will become CHINAgroup and maybe we'll have a ChinaSoft too...