Hi Devtan,
Right now I would not guess anything. I am far from being a technical analysis wizard, but there are a few facts about the present stock price gyrations that don't look good at all:
- First, the stock closed today down 50% from its high of $3.15, which was attained not even two weeks ago.
- The trend is downward, definitely, with volume diminishing almost daily (the contrary would be very disturbing, but it is not reassuring either; it just shows that the interest for the stock is waning).
- If we break under the $1.50 mark, the next stop is at $1.20... After that, back to the 70 cents range.
Finally, I'll end this pessimistic post with an other evidence: this stock has gone up following the press releases of the 16th of March. Good news as fueled it, the lack of news could well hammer it. So, let's hope that the management will come up with something soon, otherwise we will all have to work hard on our patience.
Best regards to all,
Marc
P.S.: I am still long on this stock. Fortunately, my participation is relatively small, so I can tolerate a laggard in my portfolio, as long as he as got potential... One thing for sure, though, I won't add to my position. I am too old for that kind of action. |
