Don't necessarily agree, but worth checking out. The writer is bearish: "...That level, however, is made even more important in that COIN has found it to be support and/or resistance (even if temporarily) in recent history. To see the two lines aligned with each other now just augments the resistance factor. Until this small cap can work past both, the stock's probably best avoided..."
now we are really treading water:
"About the Industrial Wastewater Market
The wastewater market is comprised of three distinct segments: Industrial Wastewater (IWW), Leachate and the Produced Water. Each market has the potential to be multi-billion dollar markets for the sale of the LM-HT™ Concentrator. Converted Organics is currently focused on the IWW segment, while HTP, the inventor and patent-holder of the LM-HT™ Concentrator, is focused on the Leachate and Produced Water markets. In each of these three markets, waste heat and/or renewable fuel will be utilized as the major source of energy for the LM-HT™ Concentrator. While these projects would be cost-effective without subsidies, HTP’s proprietary Flex-Energy™ features will generate carbon credits and grants for waste heat utilization, as directed within the Energy Bill. HTP’s Flex-Energy’sTM unique attributes allow for a wide range of greenhouse gas-reducing energy sources. Examples include landfill gas, bio-gas, coal-bed methane, and orphan gas from oil wells, along with waste heat from engines, flares, compressor stations, boilers, furnaces and incinerators. In addition, the process can utilize wood waste and other high-Btu materials that are diverted from landfills."
the float on this thing is something like 32M!
The technicals dont explain why there is resistance. The demand is definitely there, with Home Depot and Wal Mart selling their product. The question is, how fast can they get it in the stores within the next few months? That will be the test.
<The technicals dont explain why there is resistance>
They sure do. $1.05 is a key Fib retrace level for the resistance, as is the 200-day average yesterday at $1.03 and the 10 and 20 day averages are fighting to hold as support.
One side or the other is going to break soon, the bet is which way.