I don't speak technicals very well, but I follow a few people who do. They have been telling me that UNXL is in a down-trend for the past few days, and, apparently they have been quite right (something about C waves and D waves). However, they also mentioned that in order to break this downtrend and start an uptrend, we need a bullish candle on the day.
Today might just be the day we get that bullish candle if we can close around 14.30 or higher.
I think that anything that can fill this vacuum left by those hit pieces is welcome. Since I asked yesterday and there was no answer then I must assume yes. I don't know what you can add other than the public domain, but I hope that it causes people to sit and think. At least for the meanwhile.
You don't need to be a CMT (Certified Market Technician) to get some basic technical information from a chart. The THREE things you have to follow are PRICE, VOLUME, and TREND. I know this sounds trite but people do forget the most simple things. Look at AAPL's chart if you don't believe me. Significant price moves should be confirmed with significant volume. What complicates UNXL is it's relatively low float. Basic economics teaches that pricing is established at the margins or stated another way incrementally. The price that the last buyer was willing to sell at and that the last seller was willing to sell for is what established the closing price for UNXL today. It was not all the shares that traded today or this year but that last transaction. Price action is not continous but discrete. See how AAPL gapped down this morning on greatly changed willingness of sellers to sell at lower prices and buyers to only buy at lower prices. Look at how NFLX traded today for the same type of action in reverse. It gapped up from 103.26 yesterday's close, to open at 143.99, $40+ dollars. Expectations and thus prices changed dramatically and literally overnight.
UNXL is clearly in an short term downtrend. What I see is that it is at the bottom of the uptrend channel it has formed since it's breakout on Dec. 7th, the day of it's deal PR. It needs to hold here and by here I mean no lower than $13. Friday's are usually weak trading days. If it breaks $13, it will head lower as there is no real support. The day traders and swing traders will head to the exits. Just so you know I bought in first at 10.85 on 12/21/12 on the breakdown after the patent suit was announced. I sold part on the subsequent huge spikes into 18+ and rebought that part back on Zhou's short article crash at 15.05. I got stopped out this week at 15.05.
The price action of late has not been driven by anything on SA. I think it comes back to the market HATES uncertainty. With all the back and forth on SA, all it takes is a shadow of a doubt for people to get out. The folks pushing the short thesis know this. I like UNXL. I like the tech and the story. I don't think it is a scam or a fraud. However, the greatest idea without execution will never be anything more than an idea.
I will probably buy back a small position tomorrow and look to start rebuilding a larger one. However, I, like a lot of people sitting on the sideline watching, need some catalyst in the way of news or something to push us back into UNXL in a big way.
Please, excuse the long post, I am tired and in "stream of consciousness" mode.
The technical data has gone from incredibly bullish to bordering on bearish. That's why I'm holding off buying more because those analysts are right. The Company has provided a drought of information that has coincided with horrible press which though I believe has been completely dismantled, we will still have to hear from the Company. Expect the drift in the mean time. I don't think that UNXL is going to keep us waiting for too long.