Trey,
I see it hit the low seven. I was pretty sure it would to this, the break out to the down side was pretty obvious. I don't believe it will go down any lower than seven for the next few days. It's hitting it's trending low channel line, if anything it will hover about where it is to about eight for the next few days or until it make more room to go down and keep true to it trend. Any news, as always, can pop it a few points.
Trey, the shorts do have this company firmly in control. A look at your technical indicators will show you this. I believe up and coming good news will be projected in it price actions as employees and those with the know start to buy ahead of the news. Look out for this. If you were betting man, as a short term option you could consider buying it and watching very closely at 7 for the next few days. I believe that would be reasonable, considering the buy out option and the stock hitting its lower channel line. Once it clears that channel line though, in the absence of news, the risk will go to 5.
After that it's a buy and hold. |
