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Whew! OK, I've regained my composure. The 200 day moving average as of the close today = 17.6047 and the 50 day=23.3344. The stock briefly touched technical support at 16 today but did not close near the intraday low, which would be a positive. The closing bid was 17.625, which is really what counts if you're a shareholder - what can you get for your stock. So, it closed above the 200 day moving average, which for holders of the stock who believe in technical analysis, is a sigh of relief. However, if I were a short seller, I would short additional shares tomarrow to ensure that it finish the week below the 200 day. Normally, such a close would ensure addditional real selling on tuesday (market is closed on Monday). However, I am in no way making such a recommendation. I am merely stating what I have observed to be true for other stocks. I also state that neither I, or any entity I am associated with has either a long or short position in ACRT. What I would look for if I were a potential buyer of the stock would be stabilization of the price - wait for it to form a base, in O'Neil terminology. I would also wait until they report the December quarter. If you are happy with the Dec. qtr and believe in the funamentals, and if it has a good technical base in the $17-19 area, then it would be a better time to buy than now. Uh, that'll be $.10 please. |
