when i was looking @ my charts this weekend, i was going to post that, despite being extended, it looked like asdv could easily hit 40 b4 pulling back because of the lack of resistance. didn't think it would all happen in one day. now it gets tough. technically, 40 ought to offer resistance, especially given how short term overbought the stock is. fundamentally i believe that this stock could very well be in the relatively early stages. but... 40 or certainly the old highs should prove to be formidable resistance and cause the stock to base before the next leg up. of course, i thought that 32 would offer resistance, but the stock barely hiccuped for 2 days there b4 tearing onwards to 40. i took $ off the table @ ~25 1/8 (raising cash in sept when i thought the market might roll over); it's tough not to be tempted again when i'm sitting on a 417% return since april.
fundamentally, i tend to think that the consensus estimates going forward are conservative and, as such, have upside room. further, after being burned earlier this year, the lions share of the analysts still haven't brought the company back into their good graces (in terms of placing strong buy recommendations on the stock). once these geniuses decide to upgrade the stock after a 400%+ run, they will provide additional fuel.
reading back through this it looks pretty wishy washy. just figured this stock deserved some discussion here on si. i'd like to personally thank mgmt for the Q1 disaster; without which, this stock would have never moved from my 'follow' screen to my 'holdings' screen........
all information contained herein is for informational purposes only and does not constitute a solicitation or an offer to sell advisory services. equities noted herein are referenced in the context of the message and are not necessarily representative of any portfolio. both myself and clients of my firm currently hold a long position in asdv.
and, of course, all is clearly imo only........nick |
