Couldn't hold the 50 DMA AGAIN, SOLD OFF
Yep, another micro-blip of strength and it sold off hard - right back to below the 50 DMA, meaning it was a technical trade, a flip trade today by the algos and bots most likely. MM's let the retail buyers run it up a tad on the big ole "PR" largely about nothing again- and the big boy's on the Nas made nothing but bank on a quick flip technical trade looks like to me.
It is NOT UP. It's DOWN and DOWN BIG - it was a $7.00 stock only MONTHS AGO, even $6 bucks in less than that. $7 to $4 and small change is DOWN, NOT UP, LOL !!!!
It's sitting near its 52 week LOWS and near its ALL, ALL, ALL TIME LOWS. Pull up a 5 yr or more chart- it's bottom dragging right now. It's old historic lows was split adjusted $4 bucks. It just finally barely broke back above those old 5 PLUS YEAR LOWS. THAT is not a stock that's "up" by any definition.
It sold into strength today and couldn't hold above a fundamental trading metric, the 50 DMA, simple as that.
Back to barely a Big Mac, no fries, no drink- a little out of the Happy menu territory, but still a bottom dragger.
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
