Anax - thanks for the TA and other postings. Here is my TA based on the following chart site: 207.95.154.130
stock is at critical support here in low 50's it is the midpoint of the big break out last november. remember this stock did very well thru las sept-oct crash of the nas. we hit low 50's early dec, and twice in feb. a break from here would put the risk to 45-47. really only 10-15% downside. stochastics are trying to turn positive, at least are very oversold. RSI is at a point where the stock has rallied before, and indicates a weak, but oversold situation.
macd became negative for the first time in a year, but has recently rallied to at least above the dma line.
what does all this mean? INKT looks to be sitting on a ton of support. I think that we are seeing the results of opening up of the restricted stock and the selling pressure has just swamped buying. the mms seem to have just backed off to let the selling pressure have its way.
on a fundamental basis, INKT seems positioned to be one of the key players in the internet. i love "background" companies, they sell to everyone. Of course, they are at risk to the next new killer technology, i.e. the NOVL rumor of last week or so.
I have traded INKT several times, usually from the 130 (pre-split) to 150 area. i bot at 70 on tuesday, and added at 66, sold the 66 at 63, (wish i had sold it all, obviously). WHile I don't like being down, I am not panicking on this issue - yet. If i was smart, and had big enuf gagungies, i'd buy more here. Larry |
