on tiny volume. Ugh, you're not dumb enough to believe that this issue isn't going to have a pre earnings run.
Institutions are the ones who decide if a moving average will be supported. This is not that type of stock.
The stock crossed below the 50 on tiny volume. The market gives you clue to what a move on conviction is...A bearish call on this stock is just not supported by the facts. The company is progressing very well. The sellers have been retail pikers. Buyers are clearly underrepresenting their bid size. However Friday no less than 10 market makers were helping to drive the bids up. This stock did 3+ times PLSB's whole daily volume in a 4 minute span before the close. Waves up panic buying will get more frequent and intense in the month of October.
Deep down you know I am right.
this isn't horseshoes hand granades, nor dancing...close doesn't count. like ive said for weeks, charts just follow the fundamentals. There is no fundamental reason to sell.
in fact, amurinebag, ugh, nutjob and all the rest are proof positive you are on the right side of the trade. like I said 2 days ago it made a bullish engulfing candle on improving volume. 80% of the time that portends a rally in the short term. either way, my 3rd and 4th positions (of 4) went up over 11% each today on 3-5x normal volume and so that will entertain me until jonesy explodes in the bears' face
Interesting that you comment about the last weeks. Have you by any chance studies a weekly 3 year chart trading pattern? If you had you would have to have seen the heavy supply zone in the 30 cent range just above the closing price on Friday. I have no assurance from Jones Soda that this time around it will be different than previous strong looking longer term technical pictures. If those who are really in a position to evaluate what has changed or not changed over the past 12 months are willing to put down some bucks to buy stock in the open market maybe, for those who have the inclination and financial wearwithall to take the risk might want to gamble. Let's face it a 10,000 share purchase at .70 risks a big $7,000.00. Reading too many posts here that would seem to be real money to a lot of folk instead of the chump change it really is.
Let's say the shorts here turn out to be right, Short at $0.70 and you make limited profit, even if the share price falls to zero. On the other hand if the bulls turn out to be right and the Company has reinvented itself to be a more respected player in the nitche market they serve who can say with absolute certainty the stoce a year from now could be triple the .70 price.
Some harp on the balance sheet and cash flow status. My educated guess is that break-even is not that far off and reachable in Q4 unless the folks at the helm have not been truthful. The big problem I see here are the children that are playing with the shares and have no clue to what's real and what's a pipe dream.
Not that long for the real information to be realeased and this week could tip the hand of what we may expect to see in a few weeks.