Retest of 5's? No, if we are approaching POs, then every week that goes by brings us closer to, not farther away from, a material event. It would take a clear negative event to move the stock down that much, not the mere absence of POs 'yet.'
You could say the large bid (11,000) is extremely bullish. It indicates that some players are willing to buy any and all shares without dropping the bid measurably. Certainly the low volume is bullish in that there is not heavy shorting or selling taking place. Any significant move would require 6-800,000 shares/day in volume to confirm it either way. Currently, the price just drifts, awaiting news.
If Valence can keep a tight lid on information flow, the ramp in price prior to any public announcement may be measured in days, not weeks. We could continue drifting until mid-April, without testing measurably lower, regardless of the overall market. VLNC has usually traded independently of overall conditions, except in the most extreme selloffs.
So why no 'urgent buying?' Most who know of and are interested in this 'story stock' have had ample time to stake their positions. Others prefer to wait for the signal that POs have occurred. To each his own.
It's been noted that Spring Comdex is April 19-22 in Chicago. It may be that OEMs are holding back new product releases until then. Or, Mr. Murphy is holding up their incorporation of the batteries in new products.
Licensing revenue from the new patent could also appear, irrespective of the situation with respect to POs. |
