Hi Stack.
While I would rather that those quick up move in early 2020 and 2021 had not happened, they were both followed by down moves back into the lower range. In 2020 the price quickly returned and after the 2021 up move, a long grinding downtrend began. Both would discourage the public. I would call the 2021-2022 decline a quiet period of accumulation.
Quarterly earning for most of the last four years has mostly bounced back and forth around $0.00 - a few cents up or down -- not good but not that bad for a stock trading around $1.00. Despite total assets dropping for the past several years, an overview of the balance sheet doesn't look too bad.
I agree that you can call this a 4+ (almost 5) year base. that would require a move at least to about $1.50 for a buy signal, but if you want to take a little more risk, you might consider buying on a move above the upper trend line of the decline over the last year. Generally, if you were going to buy based on a decline, it should be a decline of at least 2 years, but considering the past 4+ years, I don't think trying to buy on this smaller up move is that much of a risk and it would get you in a lot lower, allowing you to buy more shares and assuming this buy signal occurs soon, you might have about a 75% move by the time the price gets to 1.50. If the decline continues for a while, you might get a buy signal at an even lower price. If it continues to decline too long, there might be something that would change your mind about it being a good buy.
Let's see what I2 has to say.
WEagle |
