Dave,
Yes, the High was 108. But this stock closed at $60 the day before Thanksgiving, hit $102 that Friday(The next trading day) and then the following Monday opened and ran to $108 and then fell back to $48 within 30 minutes. Now I have only been investing in the market for 15 years, but I have never seen anything like that (Not withstanding an announcement that the company is under investigation for illegal accounting practices). Usually a stock at least holds some of its value.
I think near term, this stock will be working toward $76. The price it hit a few weeks ago. Breaking above $76 would be a major breakout and we could well test the $100 level. Unfortunately, there is something keeping this stock back. The street knows something, it always does, regardless of what anyone on here says or thinks.
Time will tell with this one. When ONSL releases their numbers for the quarter we will all know what direction this stock is heading. If there is any bad news, this baby is going back to where it was prior to the run up before Thanksgiving(JMHO). If the news is good, this stock will run and may not look back.
Brian H. |
