EDIT: Hmmmm. PPS has been grinding flatly for the last 4 days
"Chart breakout is very close as well. "
Yep, but the wrong direction, maybe. Three of the last six days, through today, tops bump that $1.27/8 level and fell back.
Three days bottomed at $1.25 and then today made a low of $1.24 in the morning and then AH.
I'm thinking it's starting to "roll over" a bit here. I've a very short-term descending trend line that was tentative at first but looks to be in play as our highs have gone $1.28, $1.27 and now $1.26.
Until today it was on falling volume, suggesting the bottom might be in. But today volume was up around [EDIT] 43% on a lower low and lower high.
Price range riiding high in the Bollinger band, suggesting a move to the nid-point of ~$1.21, short-term. RSI, MFI, Momentum, full stochastic and ADX all weakening.
Reversion to the mean of this recent up leg would put us to $1.19.
If it completed a sweep of my descending trading channel today on a down leg we'd see $1.13-$1.14.
As to the shorters, I think they don't feel a need to rush, so they won't be applying much upward pressure. That last surprise financing round, pre-report and subsequent Q report knocked all support out from under the stock. I think the shorters attitude is demonstrated by the percentage changes as they've covered. Low single digit percentage changes.
Settle Dte Short Int. % Chg. AvgDlyVol Day2Cvr
08/15/2014 50,131,397 (2.02) 5,181,058 9.68
07/31/2014 51,163,921 (1.58) 2,274,806 22.49
07/15/2014 51,982,962 (1.88) 2,545,688 20.42
06/30/2014 52,977,138 (3.55) 2,930,580 18.08
06/13/2014 54,924,442 5.77 4,584,194 11.98
05/30/2014 51,928,544 (0.51) 4,435,270 11.71
05/15/2014 52,192,669 9.12 12,507,927 4.17
04/30/2014 47,830,885 1.99 4,333,931 11.04
04/15/2014 46,897,990 3.47 5,058,983 9.27
03/31/2014 45,324,169 3.93% 1,714,905 4.19
03/14/2014 43,609,264 (2.04) 16,588,149 2.63
MHO,
Bill
