Don,
I guess I am comfortable with the view that a stock such as ANCR may retest, and in the process, find support. Indeed, this may be the most common stock action. But we should not be complacent in thinking that a stock will come back into our buying range, so we just have to wait a bit. Re-pricing is always seeking a new balance of supply and demand, consistent with the latest information about a stock, group, sector and market. So, new information can change everything, and a support or resistance area refers to the buying and selling which once went on at that level. In ANCR's case, another OEM announcement, secondary stock offering, etc., can lead to a new view, and a new price target.
A secondary offering seems to be a positive event for ANCR, as does a NAZ listing, new OEM contract, etc. So we may still se gaps up which may not be filled in a current time frame. And thus, no retest at all.
Dennis |
