Only CNKT right now...
Charts are mixed. Lotsa short term trend reversals which were forming nicely 2 1/2 weeks ago have been shot to hell by the volatility & sell offs. Upside to the break in reversals is a show of some oversold indictors.
CO is as bad as it's been for 6+ months, but bottomed. CCI8 also matched recent bottoms. RSI has bottomed slightly above previous bottoms. Combo is getting the crap kicked out of it. All but the 54, which is flat, have turned south. 14,3,3 has fallen out and is OS; oddly, this slow poke seems to have forecast recent runs by at least a day, upswings. Remainder of other indicators mixed.
Stark is no longer a legal capper, as he should have report sales after 28 May; although the action has his fingerprints. Something to add to the selling conspiracy is of course now any buyers, which might be selling or shorting the stock in an effort to keep the valuation down as a bargaining chip. I can't place too much weight on either of the above due to serious invisibility of hard numbers/facts.
The 45+K share dump today showed the depth of support, which returned quickly to $2. It may, however, have eroded further attempts at breaking below the 1 7/8 level. It will certainly be a bull/bear war if repeated attempts are made to compromise the $2 level. TA I see says it won't stay below $2, based on the OS nature of the oscillators in general, and compared to recent (6 month) support levels. If however trends become further compromised, additional price erosion may occur.
On the optimistic side, the core indicators I use CO, CCI, MACD, ADX, SO, Combo, combined w/the volatility the past few weeks, and anticipation of further buyout news, could bring more volatility to the upside. If I can't watch it close, I may set some GTC sells on half my position @ 2 3/4 and trade it. |
