You got that right CBD, with their chart confirming an imminent reversal about to happen as the Accum/Dist soars to an all time high (Buying Pressure) as the share price was beaten down to around a 52 week low, there is only one thing left to happen, A HUGE REVERSAL!
Now I know many don't understand some of this chart jumbo mumbo, but in essence it means the stock is being bought up and held all while the share price has declined and it is only a matter of time before the stock price reverses.
As I said previously, the Accum/Dist chart is the highest ever seen by a stock chart guru I know and also given the fact that the stock price is at double bottom, the most likely scenario exist for an extreme reversal that could send the share price soaring upwards very quickly. Best way to describe the situation is comparing it to the same effects of winding a rubber-band too tight and having it spring back rapidly. It only makes common sense that this stock bounces back hard with so many of the shares being bought up and held by strong hands the past few months, causing the Accum/Dist to soar to an all time high, all the while the shorts (Primarily the MM's) have taken the share price down and now it has come to a point where any buying pressure will send the stock upwards very quickly. How high? It all depends on the buying pressure and if an exciting PR would hit, the stock could triple in a single day!
The only thing we having working against us right now is the market itself, whereas, it has reached a double top and folks are getting antsy and selling to sit on the sidelines. Eventually though the stock will take off behind this force - Count on it! Cheers!
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AI
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