And so glad I did seeing this topping action today before stock turns lower . Bearish sign unfortunately again has developed and confirmed. If we want to be objective, than there is place for to suspect the data are not going to be good or at least not good as it was hoped for.
And higher volume usually indicates better time for the price of a stock. Here we have no buyers and a lot of sellers and that is bearish sign. I'm still holding it but put tight stop on this profit not to let it slip again.
is what makes me still sitting on sidelines. Too bearish in overbought condition stock makes bearish top confirmations with 50dma still declining every day . What is even worse, that 200dma is also in long term decline. RSI level can't get past 60% and that is consider by all means very bearish as well. Technicals do not show any further advances and of course "breakout" is out of picture definitely as some were hoping for.
The fact is ,stock has been in steady decline since reaching high of 3.26 down to low of 1.61 and is only not even 15% above the low after more than 50% decline, stock would have to appreciate more than 70% from current price to reach July high and that appears to be something this stock will never be able to do.
I expect decline to 1.70's today and more tomorrow.
This is just another rumor , but rumor about ATM was as most thought just that especially after earnings where CEO talked about cash they have. We never know with those guys.
And I am so happy I did. Today action was one of most disturbing as incredibly strong bearishness radiate from this trading. I'm leaning toward what I saw , there is some possibly heavy naked shorting behind of this very negative action. In my opinion, tomorrow stock will go to try recent low at 1.61 unless but that is slight chance only, stock stopped at 1.66-.65 . But according to what I saw yesterday and especially today, I think certain forces already know, there is sure indicator in phase 3 which points to phase 3 failure.
Like or not, but this is prime example or copy of what is documented in the history of such activities we see here. Not good.
Well, not exactly. 7% stop loss would be ok but if I would pay more attention to those red flags I would never bought this stock. I had ARTX while back and every good news was met by the very similar action like in CPXX but I was lucky selling in mid 3's after last spike. I hope this was my lesson for the next time.
I just couldn't take it any more. I lost 7% as that was my stop loss set. I was hoping it will not happen but it did today. Not very good day at all for me. I am disappointed in management the way they act.