Stan,
I tend to agree with your TA. I have noticed that RSI (based on a 10 day average) has been at 20 or below since March 6. On that day the RSI plunged to its lowest level of 10.3. Snce then the RSI value as begun a slow and steady upward tick, ending on March 14 @ 24. Lower Bollinger Band is still hugging the price line, but a slight seperation is seen between the upper and lower bands, begining on March 12th.
What does this mean? IMHO..not a damn thing...the reason is because this Company has no interest in promoting themselves or their products/inventions. Normally, this type of indication would precede an upward movement in the price. Similar patterns have developed 3 times before (since the first of the year), with the price continuing the downward slide. Whats has been constant since that time??
Its obviuos--NO NEWS from this company at all! Even the recent 10k doesnt shed any light on anything to damn positive or negative. I am afraid that somebody is trying to manipulate the value of the stock. And since it appears that price of this equity responds only to news releases from the company, this does not bode well for us, in the short term.
However, with the Annual shareholders Meeeting in May, I beleive no major movement will occure in this equity until then. It is quite simple to me. Since Management controls the announcement of any positive news, I believe that Bramson et al. are using the opportunity to perhaps build a larger position. Thus, the low end of the price range will not sink much below what Bramson et al. paid for it not too long ago. And we are at the point now.
And unfortunateley, no rise will occur until any announcemnt is made, and I beleive that will happen in May. If not, large shareholders will be furious at the mismanagement that will have occured. Remember, this is the company that essentially closed its' doors in December after releasing the biggest hope for its future -- supposedly. I hope that they learned from that stupid mistake! I believe that is what has caused this stock to continue its downward drift. And Bramson et al. cannot be happy about that either. After all, they too wish to make money as well!
Anyway thats my spouting off for today. As always, your opinions are most appreciated. Good luck to all!
$Bill |
