The strength you note does not even qualify as a 50% retracement of the decline from above 3 to 1-5/8 earlier this month. I think that one can view this as either "accumulation" as you see it or "distribution" as I see it.
Just a minor correction of the facts: On August 13th, AIP traded from $2.25 down to $1.78 momentarily, or 1 25/32 (not 1 5/8, or $1.625, as you alluded to) on very low volume. It also rebounded immediately that same day closing at 2 1/8.
6. Yes I said the stock will visit the 1's and it did, it went as low as 1-5/8, for those relay enamored with the stock, that was a chance to buy. I will repeat it here again, IMHO, the stock will be in the 1's again within the next few weeks.
Again, same correction of the facts: On August 13th, AIP traded from $2.25 down to $1.78 momentarily, or 1 25/32 (not 1 5/8, or $1.625, as you alluded to) on very low volume. It also rebounded immediately that same day closing at 2 1/8.
When you say the stock will trade into the 1's again, do you mean 1 31/32 which it did touch numerous times last week and earlier this week during intraday trading? At this juncture, with financing news in the offing, I personally believe the upside potential of this stock is much greater than your perceived, or imagined, downside potential. The market appears to be in agreement, with AIPN up 3/8 during the past week, closing the week at 2 3/8. |
