Mr. Eagle:
I'm afraid the train may leave you behind on this one. The steady upward movement of this stock this past week on mostly low volumes, and in spite of an otherwise yo-yo market, suggests to me that there are very few sellers in this price range. Any buying at all seems to be causing the bid/ask to move up. Every day the price closed slightly higher than the day before, and the low price for the day has either gone up or (for the last three days) remained constant. If nobody is selling, who are you going to buy from? I would be surprised if you were able to execute a buy at anything lower than 2 7/8 on Monday, and after that it looks to me like we're back into 3+ territory to stay, unless the market really tanks (well, it IS getting to be October, and we may still have to watch an impeachment proceeding, so one never knows for sure).
I think osci is right that we will probably hit some "resistance" in the 3 3/8-to-3 5/8 range, as there do seem to be quite a few folks who bought right about there, at least some of whom will be looking to get out or reduce their stakes at break-even or a small gain. Another great earnings report, especially if the overall market conditions don't undermine us, SHOULD get us back into new high territory before year end. Hey, that could mean DD would be right on target to win the contest!!!
Just my read. Hope I'm right for a change!
Regards, #B~}> |
