Without a doubt, Gintel, myself and three or four other percentage point or more owners of CKFR will do the same as you as evidenced by our own actions on Friday's hiccup dip -- two several thousand share purchases of CKFR at $26 7/8 and $27 1/8.
Regardless, in looking at the technical basis, the trend has changed. What was prior considered to be resistance at $26.00 has now become support. This weekend suretrade.stkwtch second opinion page has upgraded CKFR to neutral from avoid.
It states however that the stock is short term overbought but that CKFR shows strongly improving conditions, i.e., a score of "3" with a recommendation to cover shorts.
With respect to shorts, i recollect on one of the several posting pages that someone was concerned that on a year to year basis, the average number of short interest has declined. The individual who stated this failed to consider that the average daily volume had also declined. If I am correct, and i have not checked the latest information, the short interest would require approximately two to three days of average colume to cover. Good but not great support.
With respect to the overbought condition, it appears that CKFR is slightly overbought which will provide buying opportunities over the next few days to weeks. Ther are two ways to rid a stock of being overbought; (1) a sideways trend for a matter of weeks or (2) a downside blip of no less than a day to three without inflicting significant technical damage to the newly identified upward trend.
It is good to see that you are learning from these pages as it is rewarding to those, like myself, who have transgressed this securities industry for more than thirty years to have a medium of this nature to communicate.
Best wishes with respect to CKFR. All told, the next two years should be dynamic. Happy to see that you will be participating.
David Zimmer |
