1.7 million short reasons to freak out as the stock closes above moving averages
appreciate thoughts and discussion on the following...I am not a technical expert, but it appears the momentum on the stock crossed an important threshold today to attract technical buyers / traders --- the stock closed above it's moving averages (about 40 cents) today, while it had strength at the end of the session. It is close to breaking out of the upper bollinger band. It had a 4.03pm trade at 48 cents with a decent share buy.
with 1.7 million shorts, modest liquidity and a chart that now can attract technical buyers / traders....
along with an investigation that appears by news (eg jobs) and advisors (shearman, wei (u.s accountant), christensen) with strong credentials
along with a price that still has a P.E less than 1...
equals a number of reasons for concern if one is holding cbeh short at this point in time... even so, glta!
This stock has a long way to go before it crosses the 200 day moving average (over $1) but at the rate it is climbing it may not take it long. it would be nice if it just stays in this range another week or so.