From a Fibonacci perspective, the fact that the stock has retraced back down more than 75% of the original move UP, would generally indicate that the Market has decided that the entire move UP was baseless and bogus. Usually, when a 75% retracement takes place, that means a 100% retracement is imminent.
I hate it because people get hurt financially; but it does appear that this is what will happen.
I'm not even sure that I would buy at $1.00, because OSBC was at $0.69, shortly before the move UP commenced.
One positive note: You can see on Level 2 that Monroe Securities (the Market Maker which is most familiar with OSBC, as they are both in Chicago) is showing a bid at $1.14. They're only displaying a 100-share bid, but it is almost certainly really far more than 100 shares.
I will watch to see what happens at $1.14.
I don't know, retailshort. I'm not really watching OSBC very closely. I have an alert set to go off if it hits $1.21.
In answer to your question regarding accumulation and distribution, I confess that I have never found an accumulation/distribution indicator which I felt was reliable enough for me.
I will say, however, that glancing now at the chart, the trading action is similar to that of a few days ago, when for several days the share-price fluctuated around the $1.60-mark. As we know, that action culminated in a drop into the $1.30's. Another such drop will set off my alert, then I will pay close attention to OSBC.
Looking at the 1-day chart, I notice that the stock is testing its 20day EMA. It is critical for the Longs that the price hold right here; otherwise the EMA test fails, and another drop-off is guaranteed.
Hope that was helpful.
By the way, in my prior post regarding the fact that OSBC is trading at less than 1/4 Book-Value, I was seeking intelligent opinions with respect to that issue. I would also add: "Why was the stock trading at 1/10 Book-Value, at $0.69, shortly before the move UP?" I am still seeking intelligent opinions regarding this matter.
What does it mean when a stock trades at 1/10 Book-Value? I am not a fundamental analyst, I am a technical analyst --- but I would be very interested to hear opinions on this subject.
I suppose I could call Monroe Securities and ask them; but I can see with my own eyes that their highest bid on OSBC is $1.14.