Only 2700 shares traded so far. Yet if you wanted to sell some shares a nice bid of 49000 shares at $1.30. Noticed this week some nice volume bids of 50,000 to 1000,000 shares just sitting below the ask. What does this mean? Good support at this price and very slow accumatiom? Not sure.
I see this as a bullish indicator of selling pressure/trading volume/drying out. UTSI made second/highier/ all time low on the day when market correction ended. If you look at 5 year and 2year charts you will notice second bullish divergence of MACD within two periods.Many tech stocks have been showing this phenomenon for months. I'm very bullish on this stock going forward.Just got out of ALU and bought UTSI. jp