Trend has reversed to positive and looks like its crossing 50 day moving average to upside. I think we will light up a bunch of day trading stock screens and get some new shareholders. Once we start selling our FDA approved product in the USA, watch out, $ 5/sh no problem.
The stupid shorts had a chance to cover, and now they are stuck in a low float stock with a FDA product with huge demand!
As we can see, price broke through the 50 day moving average resistance today on strong volume and good news flow. The 10 day moving average also finally broke back above the 20 day EMA showing a trend reversal from the down trend that started on Jan 19, 2010. I think the next is to try to get listed on a real stock exchange. They have a high enough stock price to make the change over, this alone could send the stock back above $ 5/sh. If you look, you will notice before FDA approval this stock was once $ 20/sh, and while its taking long, we should get back up there. They took 2 years too long to start getting sales after FDA approval, but it looks like they are finally making some progress for this high in demand product.
Yup, all the weak hands lost courage and folded, classic pattern. Not sure if we're in the clear yet, though. If the market stalls, the crossover may not complete and we could ride the wave down further. Hopefully, this doesn't happen. We'll see.
As you can see from the chart we had classic divergence. The MACD was trending up while the share price was going down. Finally, we had strong black buying volume today, indicating smart money pouring money into the stock as they take off the brakes, and let this puppy run. All the weak hands already folded, so no resistance.