Was thinking just the opposite / overbought and trend down to $20 or close then possible trend slowly up again. What positive news - new cfo (is that positive??)? .....low volume that means lots of buyers have dried up for a while. Always interested in other thoughts and diversity of opinion.
Buying over the last 3 mths.would appear overbought normally, but buying has been deliberate, scheduled, if you will. Somebody has a good idea of what's up for the next 2-3 qtrs., imo. New mgmt. is a good sign in that leadership is vigilant and improving out of opportunity or necessity. Improvement not guaranteed, but I think history is on our side. Low volume can also mean that just a few larger holders stopping out or selling in a down market. Most likely it's the old 'sell on the news' strategy/habit. (Kinda weird strategy if you ask me) Longs I believe are still here, hence the lack of 'insane' selling pressure. (way oversold is my figure of speech) If there was or is any REAL weakness, we would have sold off 15% or more, easily, especially in this skittish market. Tomorrow or the next day will tell with more certainty. Mostly, I'm more impressed of our position versus the SOXL or ACT/GILD, etc. from a charting perspective. From a product/service perspective, we are still VERY much needed. I'm good with that. Good luck to us, either side of the trade.