What do you base your claim on when you say the high $4s? I am preparing to purchase more shares, so if you can clarify your view, it would help me decide on an entry point.
I would like to express my view if you don't mind.
At this point, ... and this of course can change in a heartbeat at anytime, support at this point is at $6.01 and we've been watching $6.01 since Dec-14th.
If $6.01 fails to hold, we then have the $5.86, a support-line, ... (which Truman also spoke of), that printed back on July 20th of 2010. We recently printed that same low-point ($5.86) on Sept 14th of 2011 and its held up so far, ... and the lowest print since then has been the $6.01.
To be more exact, ... here are several other support levels per Barchart.com, ... all these are viewable by anyone that reads charts and my research goes beyond any website's claim of support and resistance areas, I reach my own opinions.
1. Pivot Point 1st Level Support. $6.09
2. 4 Week Low. & 13 Week Low. $6.01
3. Pivot Point 2nd Level Support. $6.00
4. 52 Week Low. $5.86
5. 14 Day RSI at 30%. $5.38
6. 14 Day RSI at 20%. $3.39
Anyone that has a simple understanding of technical analysis can see the support-lines stated above.
Other then a total sector or market break-down which can erupt at anytime today or throughout the year, ... I don't see any support in the high $4, its a free-fall into the $3s once below the $5.80s considering many other indicators break-down with SVM as well.
SVM has proven itself to be a legit, ... profitable company with real earnings and a positive forward looking quarter, SVM fundamentals are solid at this point!