You're right, but first they have to generate positive news that's worth talking about in a release. In recent months it's been nothing or very negative. Stocks don't move higher on malfeasance.
Hopefully 2.09 is the bottom, but I think we wallow around in the low two's for a while as yet another base gets built. All the promise is still waiting to be fulfilled. Until we see some tangible evidence that things have turned around, I don't see any impetus to move this sharply higher quickly. I think there is still time to pick up shares below the current price of 2.40. I would love to be wrong, believe me.
No, I don't think that happens. Actually the uptick in volume has included some accumulation. I want to see how this closes today. For me, 2.50 is a key number. If it falls hard away from there it will argue for lower prices for sure. If it can close at or above there somehow, it will be a positive. Whatever happens I don't think 1.65 is in play. Will be an interesting afternoon.
These things feed on themselves. Volume has gotten heavy, for this stock anyway. We'll have to see where it finds a bottom. and then assess the technical damage. This will not turn into a V bottom, Unless something totally unforeseen happens ERB will need time to repair itself.
Not much volume so far, but it looks like a cascade at the moment. These things can feed on themselves. This is not really the time to dump shares. Panic selling to some extent has to be expected after the Friday after hours debacle. Fell through 2.50 like the trap door was opened. If it can somehow close above that today it would be quite positive.
In retrospect we should have known something was amiss. No communication, what can only be called an earnings reporting fiasco, refusing to take my calls. I've grown tired of the excuses. Management is failing to execute. Some reasons may be valid, but I believe there is plenty of incompetence. Yes, I don't expect the second quarter will show improvement. The price is very vulnerable moving forward. To this point it appears we've been snookered.
My feeling is that this will continue to bounce around until there is news. The lack of communication from the company is frustrating. I think the price can bounce anywhere from 2.50 to 3.35 until we get something meaningful from them. However I think it's unlikely the price drops below 2.75 before then.
Unless there's something very powerful fundamentally going on beneath the surface, I still think this will have trouble getting over the mid 3.30's without meaningful news. I would very much love to be wrong about this, but it needs a strong dose of energy injected into its pattern. Conversely I think it was very bullish that it held at 2.50 recently in spite of all the uncertainty surrounding reporting. However if the company somehow screws up its mid August deadline to clean up its mess, that 2.50 support would most likely crack. We need news!
Just as ERB recently found support around 2.50, it looks like there may be strong resistance in the low 3,30's. I would love to be wrong about that. We probably waffle around from here until we get some news.
It would probably spoil everything! Seriously, I hope this stealth move ( as noted by getty) is just a precursor of a positive announcement on Friday regarding the property sale. Lots on the table and here's hoping the company unlocks some of their secrets and informs the shareholders. Would like to see some volume to help validate what's going on.
I need a status report from the company before I fully embrace the moonshot way of thinking. We haven't heard anything meaningful from them in too long. The unprofessional way they've handled earnings sticks in my craw. Obviously I recognize the potential here, but we need and deserve better communication from the company.
I agree, efl. With the recent exception ERB has generally released before the open. Like you say, an after market release after the close is generally not a good thing. Especially on a Friday. The lack of any information from the company is frustrating. Perhaps they have a good reason for it and we will be pleasantly surprised soon. If everything works out with the property sale, maybe the news flow will pick up next Friday or during the week of the 22nd.
I would think we would get a heads up announcement a few days before the release. Maybe if we're really lucky they'll throw in another cc to give us a feel for what's going on.
Jeff, you appear to be a very shallow,bitter individual. People have differing financial situations and obligations that are always changing. His situation, whatever it is, doesn't warrant your comment or input. Go out and make some friends. If you're even capable of that.
That would be the highly anticipated first quarter earnings. Based on the previous delays, it's anybody's guess as to when we get it.
Yeah, I read the report and it's a stretch to find anything redeeming in there. Iluv, we're in the same boat. I'm loaded to the gills here and don't plan to buy more. I can't find any after hours trades though and I'm wondering where CNBC got that from. Monday should be hard down. My intuition has been wrong before, but unless they can come up with a Hail Mary for us Monday morning, it will be a rough day. Recently 2.50 was tested three times. At 2.50, 2.51 and 2.54. Each time it bounced higher off those numbers on decent volume. Something to watch perhaps.