Put your buy stops in at $2.51, because if it breaks $2.50, it's probably going to $2.75-2.90 very quickly.
That resistance is morphing into support, if you know what I mean ...
looks like that resistance melted away today...The way the price moved today does not bode well for shorts. It was not some momentum player paying the ask--rather, it was a relentless raising of the bid, penny by penny.I neither traded nor had any orders in today. I am through unless it comes back to the $2.30's.
There is also support that will put a lid on the potential profit for any short position.
I am using one of my sleaziest techniques: the "ratchet". I am on the bid at $2.35 today for an unspecified number of shares showing as 100 on arca. How many? I'll leave anyone who reads my drivel guessing ... 400? ... 10k? ... 225k?