Over the last two years this stock has crossed its 200 day moving average on its way down 7 times. It did it again on June 25th. Each time it does so it reaches a bottom trough on average 50 days later an average of 29% lower (Way to go Bob). The most recent time it went below was June 25th - Based on past averages, it will turn around on August 14th (again based on recent trends) at $1.55.
So, Why doesn't the board fire the CEO??? Any guesses?
Well? What does this pop portend from a technical standpoint? It seems to me that 2.04 show adequate support & may be the new floor, and now we'll see what happens on the upside. But I'm not a charty guy. What do you think?
I have a hunch the stock may hold at this level & then start creeping up a bit. It seems to me the stock is flatlining (at low volume) a longer than it usually does before it slides. If we hold around here for another week, what would that signal technically? I mean, in the absense of unusual news....
Oil is trading higher today and AXAS is down 2% as I type. The board doesn't fire Watson, because Watson controls the BOD....they are his cronies and his rubber stamp to do as he pleases. They get their compensation and keep their mouths shut. Hopefully this will change with the CG's board member, but I don't have much hope about that either. Sickening!