Price moved lower Tuesday but somebody was buying the move down. Who? The dumb money? No.
They began marking it down Monday afternoon on light volume. When they got it down under 6.10 then the fear / volume came in. It sold down to 6.01 and they supported it and bounced it up to 6.10. Then they bought it the rest of the day. That first reaction off the low, up to 6.10 formed a trading range but was also important because the first reaction becomes support after a break above the TR and sure enough that held at the close. The break out above the TR was the highest 30-min volume of the day and the best price movement. That stick was real. The last 30 min stick had volume too, but had little price movement.....buyers. It didn't test 5.98 and I suppose it still could. But overall I'd say Tuesday looked bullish. I still think the February close will battle the 6.34 line.......2 more trading days to get it up there.
It is difficult to watch the 2012 EPS remain the same as 2011 despite a 60 mil increase in sales (which is actually impressive). There is something to be said about investing in growing the business while fighting off the competition, but there needs to be balance and watching expenses.
Don't you think the company could trim marketing expenses quickly (i.e. 2013)? A few less parties and athletes and the bottom line is improved with little impact to sales.
Yes but it took a stab at 6.34, reaching to 6.29. But it did not reach or close above that high-volume January low. February's volume was lighter but it didn't hold price, so price CAN (not WILL) go lower in March.
Well, that was a nice pop @ 9:55 central, Wednesday. Blasted thru the daily pivot, 6.13, and stopped at the daily R1 pivot, 6.24. The 5-day pivot is at 6.23. So pretty stiff resistance in that area and it will need to build some cause to go higher. Again today the best volume intraday volume (5min and 10min bars) was that pop up and it had price expansion........a real move.