No support I would wait have had no news for the run up now the run down unless znga says something it will keep dropping at least wait till Monday never buy a stuck stock.
Buy fast dips sell fast pops.
Stockspot at 1PMEST yesterday predicted that Metabolix (MBLX) at $1.10 would become the biggest winner today and they were 100% correct. MBLX is the largest percentage gainer in the U.S. today up 68.2% to $1.80 on HUGE volume of 1.7 million. Stockspot first picked MBLX as its #1 ranked momentum play on November 14th at $0.88 and it is now up 105% in three weeks!
Stockspot is now predicting that Agria (GRO) will be the largest percentage gainer next week. Stockspot has downgraded MBLX to #5 on its momentum list while upgrading GRO #1. According to Stockspot, GRO's shares in publicly traded PGG Wrightson (PGW.NZ) alone are worth $1.81 per share. On top of that, GRO's China seeds business just reported fiscal year 2013 revenue growth of 98%. A valuation for GRO's China seeds business of between 1X and 3X its $17 million in revenues will add an additional $0.31-$0.92 to GRO's share price. This means GRO is likely to rise next week to between $2.12 and $2.73 per share!
GRO has a HUGE cash position of about $65 million and just reduced its debt to $71 million, which equals net debt of only $6 million. GRO reported fiscal year 2013 free cash flow from operations of $12 million or $0.22 per share! Early next year, GRO will report its earnings for the first half of fiscal year 2014 and GRO's cash position could exceed its debt, which would make GRO debt free on a net basis!
GRO has approved a share buyback of up to $10 million, which could begin any day now - and would allow GRO to reduce its already small float by another 25-30%! Stockspot owns 550,000 shares of GRO and intends to sell its shares at much higher prices.
Get your feet wet. I did! I can never find the exact low so I usually miss a little but don't want to be left in the dust. I been buying under 4 all day. Good luck longs.
Sentiment: Strong Buy