Hi Guys, I bought at 30.03, the shares have gone down about 10% since I bought, was wondering should I exit out. I bought 100 shares, I know its nothing major for the elitetrader geniuses out there, but I just wanna cut my losses short. Does anyone have any advice on this stock right now? The fundamentals look good, I am willing to hold it for 2-3 years, but I dont want this stock going to $15 bux, and losing 50% in the process. Thanks, Sikh Investor [God Bless America]
8 months data and you want us to tell you what it will do over the next 2-3 years? Could it tank in that time and go to zero? Who knows - possibly. Right now it's on support at 26 but it's in a confirmed downtrend so I'd expect more downside. Looks one sick puppy to me but I'd need a crystal ball to tell you it's medium to long term outlook. Buying at 30? Did you buy because it went up 3 days after it broke the 30 support? If so 30 was resistance and it was all down from there. In a nutshell, the charts look sick but not enough data to see any real support. Downside is unpredicable but expect more as volume has been increasing as this puppy sinks. Sorry mate - can't give you anything positive. This was one to short.
chart is very ugly. Remember that most IPO's are selling at or below their introduction price after the first year. If you're truly in in for 2 or 3 years because you think it is a good company then stay in it. If you just bought it, and you are worried about a 3-4 dollar decline then you obviously are not in it for the long term. You do need to work on your entry points when selecting a stock. You bought at the wrong time, and I am not looking at it after the fact and saying that. The stock has been in a distinct downtrend since Janyuary 8th of this year. I also wouldn't trade a stock as illiquid as this one is.