Some messages back I mentioned that the TA showed a
likely bottom of 2.00 and a possible bottom of 1.80.
I know lots of fundamentalists don't believe in TA
but for those who do, today's trading showed a likely
move to 1.80. Volume was up substantially, price was
down to 2.11. The low for the year is 2.10. The OBV
continues negative and so does the MACD. As I said before
I'd expect this trend to be short term because new
information is expected within the next two months.
The price ended on the low for the day which usually
means another drop tomorrow. If the price falls below
2.10, then I'd expect to see it continue down to 2.00
over the next few days.
DSP is interesting because it has mirrored WSP but
today, even though it made a new low, there has been
no rush to sell. The trades are odd lots, all of which
are very small. 125 shares, 175 shares. If you want to
buy anything over two thousand shares, you'd have to
go over 80 cents. Even then you might not get any.
IF, and that's a big if, WSP does move down to the
support line at 1.80, the question is whether DSP will
drop to 70 or 65. I would think those prices would bring
out the buyers--including me.
WSP is giving ground but not without a fight. The buyers
are there. Even a slight shift in sentiment and the price
will rebound pretty quickly.
And nope, I won't bet a dozen cyber-beers. The trend is
there but it won't take much to break it. |
