I'm not so sure it's toppy here. We're 30 cents or so away from a 52 week high, it's been pushing up against the 2.55 area for the past 2 weeks, so there's definitely interest in the stock and no shortage of buyers...I'm betting we take out the 52 week high by end of year, at least from a technical trading aspect.....just my opinion but it doesn't feel toppy at all.
There was supply on the bid all day long. There was no less than 10k shares on the bid all day...at 1.89....1.90....1.91....1.92..... Every time someone sold into it, another lot of 10k-20k would appear on the bid. Volume also picked up....volume precedes price they say.
I don't forecast stock prices short term (because I'm bad at it), but yesterday and today's price action has all the makings of a run coming up soon....no idea when and no idea at what price but there's definitely money moving into SQNS for whatever reason.
In all honesty I thought this company, it's technological edge, products and management team were the bees knees. I bought into this stock after it fell into the 8.00's after going public, I then sold in the 13.00's after the infamous Cramer pump.. I then bought back a year later in the 8.00's again only to sell last year in the 3.00's.
The whole time I thought they were going to fire on all cylinders. Every conference call was the same..."next qtr....next qtr".... Sadly it just never happened, that revenue ramp, that new big design win, that new certification....every CC it was coming another qtr or two away, but it never did and still hasn't.
It's sad but I think they actually do have great products, it's the management execution that's killing this company. SQNS reminds me of NVTL....every qtr earnings are a disappointment.