Today's volume a scant 85,000. There isn't much evidence there to conclude shareholders are running for the exits. 1.1 million shares short, doing the math at today's volume, 13 sessions for a full short cover. Quantum's backlog as reported last Q increased. New product launch in mining, details coming with the next quarterly. Maybe shorts will find a wave of selling to benefit them. I don't see that happening.
They do not think anything positive about the 07/07 news, QTWW announced it has received a contract to develop a specialized 5,000 psi CNG tank specifically configured for an integrated storage system for heavy duty mining trucks in Australia. The tank will be developed for an international industrial firm which supports mining and other manufacturing applications leveraging compressed natural gas. The mining applications require availability of natural gas using virtual pipeline delivery methods and the use of CNG tanks for mining applications complements Quantum's recently announced commercial entry into the virtual pipeline industry.
|||||||||||| What I see is a pilot program utilizing 2 of the company's products, working in synergy, to compete against higher diesel costs. IMO, the number crunching is viable, altho no one should reasonably expect pricing specifics. If my opinion is correct, Australia will prove to be the rollout for what becomes a global one.
No doubt sellers and shorts would scoff at all of the above.
not here to argue. Yet you may have overlooked how the 5 day chart, the intraday failed to reach the 5 day resistance level and retreated lower today just below that resistance. Nothing is 100% reliable but a breakout today appears ruled out.