Purely technical Fibonacci analysis of this stock shows that if we have an end of day drop below $5.73 (reached that eod on June 10), but we do not go below $4.94 (reached on May 8), we will have a clearly defined first large first wave of three - up. If we don't go below $5.73, then it could be argued we are on a pull back from the second wave up - meaning we only have one more wave up - before another horrible downturn like what we experienced starting March 11 through May 8 when we hit $4.94 eod. So crazy as it might sound, I hope we go below $5.73 next week because that will clearly define that our next move up will be at least $6.52 from whatever that low is (but it can't go lower than 4.94). So if we get that, we are only in a big pull back from a big first wave up - and we will have two more waves up. :). Meaning the move I referenced of at least $6.52 up is ONLY the second wave. Then the obvious adam feuerstein motivated pull back will follow -- with still one more wave up to come (hopefully to $50 or $100 on L halt). Which all coincides with the fundamentals - direct or HE take us up next wave to $12 or more -- and then we wait for the next one. So IMO, the TA and the FA are screaming a bulls-eye! So do not despair if we go below $5.73 next week - it will definitively define we are pulling back from the first wave up - and not from the second. And that is what you want to see on the TA side. I've said it before and I will say it again - many people and large institutions buy only on the technicals. I don't think that's how one should buy - I'm only saying they do.
So if you sell now - you risk missing out on a big move up that is coiled and ready to spring. But... If we drop below $4.94 eod (end of day), that is not good because that means we are still dropping from the high of $9.18 on March 11. I don't even think LTT wants to see that now as he's closed out his short position. He's looking for that $6.50 rise too. And I don't think the big guys holding the stock will let it drop that far either. They won't want to change the technicals because they LOOK so good right now. Why do you think Xena showed up? She follows this stuff -- and buys and sells based on it! Not saying you don't follow fundamentals Xena :). I know you do both.
Not bad for typing with one finger!
