Agreed and i enjoy your TA here, at ACAD, and elsewhere. Keep it coming. I like the MACD ready to bounce with the RSI late this week into results. This was a healthy pullback that will allow the price step up to 10 without much trouble.
My guess: A lot of the tutes have accumulated large positions along with retail longs and are hunkered down not wilingl to part with their shares waiting for the news. Essentially the float is locking up a bit and now the retail longs are driving us higher for the time being building their core positions before the news. Most of the profit taking is over and I have one friend who is all in cash having sold at 6.25 against my advice. His plan is to buy back in after the news if it is positive. His theory is he will miss the big pop but he will reap the long term play 2 to 3 years out as we head toward potential triple digits without the risking bad news.
I see that working out badly for him imo as the pop north will be violent in my opinon bringing in much more institutional buying along with retail jumping on with him. Esentially he will have lost about 50% of his controlling interest in the company by sitting on the sidelines. I convinced him to buy back in with 50% at the open this morning and then he can add the remainder after the news.
It is going to be a fun month for all the longs ..!!
Calm before the storm. I think this starts roaring again towards the end of this week and all next week. Quiet consolidation while they set it all up. I'm psyched for this next run. Perfect time to buy here instead of chasing this roadrunner later.