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SGOCO Group, Ltd. Message Board

  • hageneriksson hageneriksson Aug 21, 2013 12:53 PM Flag

    feeling sorry for the early morning buyers as their day will end up in a total desaster

    this morning more than two million shares were traded above $4 mostly by momentum traders who can't afford to stay long the stock. Once it becomes clear that the price won't go back up this session they will run for the exits so I would expect another leg down to new lows after lunch. Stock might finish unchanged or just slightly green with more selling pressure caused by trapped traders until the end of the week. As an investor I would wait for the failed momentum investors to leave and pick up some shares once the volume has dried out. I think the shares might see $2.50 again as this is the ideal setup for a multi-day reversal here.

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0.57-0.06(-9.51%)Jul 31 12:56 PMEDT