Head back down to $5's next week. This company is dead, the smart money got in on the short side on the spike. We still have several months before the next bs quarterly report where they will say that things will improve next quarter again.
There is no value here other than a quick trade.
Notice how this thing can never rally for more than a day. The sell-off begins again on Tuesday. This time we sell back down to the levels that the Kaufman news came out at.
QQQ's and SPY moving up after hrs. If continue up and hold, would be less bearish, tho volume still a huge concern.
CEDC may move up even if SPY QQQ do not, imo.
All, as always, only my opinion.
I'm not a pro technical trader. I seek out gem stocks and turnarounds internationally and attempt to trade 'around' 'em using technicals, tho I do trade indices etc. from time to time (including going short/country/commodity/etc.).
I prefer to trade shares into a bottom to capture short covering moves, if/when possible, and then keep some shares of my pick.
Back to CEDC Analysis Fib Analysis Fibonacci analysis evaluates the short term (30 days) intermediate term (60 days) and long term trends (120 days) and retracements. Stocks that retrace 38.2% or less of a trend will usually continue the trend. Retracements exceeding 61.8% indicate a reversal. Alerts will include ABC's up/down (multiple 38% retracements) and various reversal signals. time Fram Trend 38.2% 50% 61.8% Long 12.63 to 5.49 8.2 (37.96%) . . Intermediate 12.25 to 5.49 . 8.2 (40.09%) . Short 10.84 to 5.38 . 8.2 (51.65%) .
- My analysis is on a smaller scale.
Don't ever substitute any charting service for your own careful and thorough technical analysis, but it's worthwhile (imo) to see what the some of the free services are suggesting.
Barchart dot com is GREAT, but misses all the bottoms I love to trade (lookin' fer short covering).
stockta dot com and most others miss bottoms.
stockconsultant dot com does give some weight to immensely and intensely oversold, but I would not use any or all three of these as a substitute for my own judgment.
Sw... even though your question was aimed at Pic. I am looking under 6 to buy back in. if the market runs down this will not be an issue. Good news and i mean good news is the only way this will be prevented.