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Aurcana Corporation Message Board

  • divyguy divyguy Feb 16, 2013 3:08 PM Flag

    My take on price drop...

    I think the following factors combined to give us the price drop this week:

    Low liquidity
    Silver lost $2 this week
    Reverse Split Announcement caused some traders who enjoy the low liquidity bailed
    Too much pressure on stock when it was already pushing on its key low 80s technical support

    Once it broke through 80 cents we were almost guaranteed to fall to the next support line in the 70-71 range. I bought more on Friday and will buy more if it breaks through this support and falls to low 60s technical support (which is stronger). Barring a positive news announcement, I would be surprised if we don't fall further IF silver/gold continue to fall.

    Sentiment: Strong Buy

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0.199-0.001(-0.50%)May 31 3:06 PMEDT