Mama's chart is setting up for something. I think its going to jump and very soon. The Bollinger bands are real tight, the formation looks like an ascending triangle, price action has contracted, etc. OBV demonstrates Something big is going to happen very shortly. Its not selling off. Its trading real flat and this cant happen for much longer. If it jumps, it will get to the previous high. If it gets past the previous high, then it will get to 13 dollars. Im not exactly certain if the price action will be up or down, but since its not selling off I think it will be up. In any event, something big will happen soon.
excellent looking chart. too bad the company is nothing special. earnings are tomorrow after the close i think. worst case scenario is it drops down to $4 from bad earnings. maybe ill do 100 shares and try my luck with earnings.
There is a reason why its trading like this. It had every chance in the world to return to the pennys this year. Someone has confidence in this stock or it would not be at these levels. I would have to say it goes higher after today. The game just begins here. I think it also helps that a director is employed by Google.
They can run this company on bullshit rumors easily...plus, last quarter they surprising swung to a profit which was miraculous. I wouldn't touch it unless a run on very significant volume is confirmed...they're nothing special and wouldn't be worth acquiring to any other company really unless they had money to throw away.
The reason it is trading like this is coz everytime it sags under its own weight someone gives it a spike up so they can continue the distribution (IMHO).
The Russell 2000 is now down nearly 1% and this stock is up a few percentage points. This isnt distribution. This is accumulation.