Are there any chartists amongst us? I'm wondering whether or not from a technical point of view it is very important at this stage for DSNY to make new highs in the immediate future. I know next to nothing about charting and don't really believe in it, however, to a certain degree, it seems to be self-fulfilling information... I know chartists don't like "head and shoulders" formation, and that's what makes me wonder if a new high is important right about now. Without it, are we in danger of experience the dreaded "head and shoulders" pattern? Oooohhhhh, scary.......... I may have to take my old cup and saucer and go have tea just to calm down........
Right opportunity at the right time, now management just has to execute. If you are looking for something groundbreaking tomorrow, or even next week, you will be sorely disappointed. A stock with such low volume and low float is bad for your health, if you allow to the daily swings to churn your stomach... relax, know what you own, and we'll have this conversation in a few years :).
The run-up began with the 8-K release on 11/29. Don't panic with the slight drop today on the official PR. The launch has been known and public almost a week now. Watching the trading action over the last few days, the stock is actually not overbought. Healthy consolidation taking place now is setting the stage for the next run-up, likely pending good news from the Japan trip Dec 9th (Dentsu is a likely choice for partnership, check them out).
Charts on small companies like these are pretty much next to worthless. They are news driven for the most part, and in this case as the word spreads about what DSNY has achieved technically I suspect that will drive sales as well. If you want to follow charts here be my guest, but you'll probably miss the big picture following the little squiggles.