I think this time we run for a while. Check the chart:
askresearch.com
Here's what I like:
1) We closed above 200-day MA. Of course, we did that for a few days back in January and then we even had the 50-day MA in a sharp uptrend, which we don't have yet. However, the 50-day MA never crossed the 200. That's what we really need for this thing to take off, and I think we'll see it soon.
2) Stock had very solid support at 4 and we have a triple bottom. I was hoping it would find support at about 4.5 or 5 to form a really solid triple bottom, with each bottom higher than the last. Didn't do it, but it still didn't pierce 4 like it did in October.
3) The link shows the OBV chart. It looks great. I have pointed this out before on this thread, but the stock has been under accumulation since September. The chart looks like a staircase. Big buyers move in for a few days and buy a lot and drive the price up. Then, over the next few weeks or months the small investors sell off and the stock trickles down on low volume. Since there has not been any sell off the stock can move up very quickly, like it has the last two sessions (81% in two days).
4) Stock was up on a Friday. If a stock is being hyped and daytraded and has had recent gains, it always sells off on Friday. Always. Anyone who has daytraded knows you don't hold positions overnight, and never over a weekend. You can get killed by a gap down. No sell off today means we have buy and hold types buying.
5) The BA announcement had two key works in it - five years. Why give a five year deal to a company that is about to go under because it can't financing? To me, five years implied financing.
6) The last 6 months (however ugly) looks much better than the 6 months before that. The worst is over.
7) Dr. Tech hasn't been posting. Stay away, Doc! Don't jinx us! I know you are right about many things, but your posts have been costly.
I don't want to get carried away, but I now think $10 in the near future is a real possibility. On behalf of all those who have been long and wrong, lets hear 3 cheers for the stock we love to hate!
Go WSTL!
Go WSTL!
Go WSTL! |
