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My guess is $3.70 solely based on the chart. By the end of this week or next week, I don't know, but this is the next price projection based on the break-out of the ascending triangle...
RSI very bullish, MACD positive, ADX > 25 confirms uptrend, Accum/Dist at new all-time high!
But I am not a professional chartist and it does not serve as an investment advice! Conduct your own research into individual stocks before making a purchase decision.
Chart courtesy of StockCharts.com
The 60-minute-chart looks really great:
$WMIH 60-minute-chart: http://goo.gl/tQM3wW
I also expect at least two more big white candles in the daily chart with the current MACD, very bullish RSI and the Accum/Dist at its new all-time high...
Short interest is 769,088 of Apr. 30 according to
http://www.otcmarkets.com/stock/WMIH/short-sales
Probably some of them covered yesterday. I'd like to see a nice short squeeze tomorrow
I don't see that "massive dilution on the consummation of an acquisition" because the equivalent will be a profitable company that enables WMIH to use its massive NOLs
45 days before the closing of the deal is usual, so this evening, tomorrow or Wednesday could be the day when we finally see an 8-K for the M&A...
433k in a little more than 2 hours isn't that bad IMO...
$WMIH Daily Chart: 60 minutes timeframe
Barchart.com chart: http://goo.gl/tQM3wW
After the break-out of the ascending triangle the PPS tested the $2.69 support several times before it bounced off and continued its previous uptrend. $2.69 is a very strong support now IMO
Have a look at the last 3 trading hours on Thursday and the whole Friday...
Chart: pullback to upper triangle line
As I described 10 days ago the PPS broke through the upper triangle line of the ascending triangle:
Chart (10 days old):
Chart courtesy of StockCharts.com
The break-out occured with high volume (blue circle), and now we saw the pullback to the upper triangle line ($2.70) with low volume (orange circle), which happens quite often.
Chart from yesterday:
Chart courtesy of StockCharts.com
If it bounces off from the upper triangle line we could see the $3 soon and the $3.70 in the following weeks.
MA-100 will break through the MA-200 today! Both @2.34 now! (green circle)
RSI is very bullish, ADX > 25 (now 32.52) confirms the up-trend and CMF still positive!
Yes, reincorporation will be effective tomorrow, new company name is "WMIH Corp.", 8-K today or tommorow after-hours IMO
No volume? 200k @ $2.70 in ONE trade at the moment...
http://cdn1.boardpost.net/quote.php
Somebody got stopped out?
Only 5 business days until the reincorporation in Delaware should be completed (according to the BOD on or before Friday 15).
After that an M&A can happen virtually at any time, but the reincorporation seems to be a premise for an M&A...
Chart: Next Golden Cross imminent
http://schrts.co/VhBcj5
The MA-100 (currently @ $2.30) is about to cross the MA-200 (currently @ $2.34) in a few days. I expect it on Friday, the day when the reincorporation in Delaware shall be completed (the BOD says on or before 05/15/2015).
The MA-200 has bottomed out @ $2.34 and is about to turn upwards. Very positive chart signal IMO
Golden Cross: http://www.investopedia.com/terms/g/goldencross.asp
Volume also seems to increase! I guess nobody wants to be out over the weekend as they could announce the reincorporation in Delaware on Monday pre-market (planned according to shareholder meeting on or before Friday May 15th)
An 8-K for an M&A could follow shortly after the reincorporation...
Today we could exceed the 1M shares/day
Break-out of ascending triangle confirmed today after the doji yesterday IMO
RSI very bullish and Full Stochastics very positive. The PPS is riding the upper Bollinger Band
Next resistance @ $2.85
$WMIH chart:
Chart courtesy of StockCharts.com
Also the break-out of the big ascending triangle I posted a few days ago (old chart!) has been confirmed...
Chart courtesy of StockCharts.com
Friday this week or next week?
When do you expect the 8-K for the completed reincorporation in Delaware? They want to have it done on or before May 15, but I don't think they'll wait until that date (and up to 4 business days for the 8-K).
IMO the best time would be Monday pre-market (like the KKR Commitment Letter)
The article is new, but IMO big BS. It is about this Form-D...
http://www.sec.gov/Archives/edgar/data/933136/000089659515000036/xslFormDX01/primary_doc.xml
...and this is only the $700,009 compensation of our BOD, nothing else, no secret funding or anything else.
And BTW, you've just confused $700,000 with $700 million!
...or they simply want to have enough authorized shares for the next N capital rises in the next 20 or 30 years so they do not have to request new authorized shares each time. Isn't that the most obvious reason?!?
diamond, there is no doubt in my opinion that the newly authorized 3.5 billion shares is MASSIVE by anybody's standards.
[...]
Bid $2.75 / Ask $2.80 according to
http://www.otcmarkets.com/stock/WMIH/quote
Ascending Triangle Break-out: Target $3.70
RSI very bullish, MACD positiv, Accum/Dist at new all-time high!
Chart courtesy of StockCharts.com
With the expected news (reincorporation, M&A and up-listing) I see further increase in PPS and don't expect any pullback to the bottom line of the triangle (@ $2.30) although it is still possible...
Everything is JMO!!!
Explanations/examples for ascending triangles:
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:ascending_triangle_continuation
http://www.investopedia.com/terms/a/ascendingtriangle.asp
http://thepatternsite.com/at.html
http://www.chartadvisor.com/freereport/free_report_pg3.aspx
Impressive chart! Also have a look at the ADX @ 30.88 and the positive CMF in the following chart link!
$WMIH chart: http://stockcharts.com/h-sc/ui?s=WMIH&p=D&b=5&g=0&id=p18454714073
ADX >= 25 confirms a trend and the CMF (Chaikin Money Flow) is positive since April 1st. IMO the PPS could ride on the upper Bollinger Band for a while...
$2.74 painted (1st level pivot resistance was $2.71), 2nd level pivot resistance is $2.77
http://cdn1.boardpost.net/quote.php
This week we should break the $2.77 (Pivot Point 2nd Level Resistance) and then the PPS could easily run up to $3.20
Pivot Point 1st Level Resistance: $2.71
Pivot Point 2nd Level Resistance: $2.77
http://www.barchart.com/cheatsheet.php?sym=WMIH
Barchart overall average for $WMIH: 96% Buy
http://www.barchart.com/opinions/stocks/WMIH
I also expect the 8-K of the reincorporation on next Monday (05/11/2015) pre-market (like the KKR Commitment Letter) and I think the announcment of an M&A will follow in May or early June. JMO
Your logic is not correct, the B Preferreds can only be converted when a "qualified acquisition" takes place.
I think it is correct to say in 12 business days (or less) the reincorporation in Delaware should be completed, but the conversion of B Preferreds goes along with the M&A (qualified acquisition), that's a fact.
BTW, the B Prefs have a lifetime until 07/05/2018 (!)
So it is not a MUST that the conversion will happen until 07/05/2015, but nevertheless I think it WILL, because the big boyz want to earn money ASAP.
In 16 days the Preferred shares will be converted and company will have a new business charter in Delaware.
Great news..
Then the next steps begin all within the next eight weeks
By 5 July the company will announce a merger and be moving to the NASDAQ or NYSE exchanges.
WHEN will "fair and reasonable" take place...
13 business days (at the latest) until reincorporation in Delaware should be finished. My WAG: it will be announced next week...
The 3.5B shares are coupled to the reincorporation in Delaware. The vote for the reincorporation passed, so the 3.5B shares are a sure thing IMO
No separate vote needed!
Next resistance @ $2.723 and 96% buy for $WMIH
http://www.barchart.com/opinions/stocks/WMIH
Support @ $2.563
REALly? Look at the 3 year chart, and especially the Accum/Dist line and the Golden Cross that occurred a few days ago...
You really think this chart supports your statement?!? You only want to get in cheap...
This will not see 3.00 for at least 5-8 years if lucky IMO the board needs this much time to poss away the rest of the hidden assets
I know!!! My post was a reply to drrugby who said...
CITI is not a preferred shareholder, they are the Escrow Agent for KKR's preferred investment in WMIH.
Huh? Citi did not purchase B-preferreds?
http://www.sec.gov/Archives/edgar/data/933136/000156459015001104/wmih-10k_20141231.htm
The Form 8-K filed by the Company on December 19. 2014 included an immaterial mistake regarding the number of shares purchased by each Placement Agent. Specifically, KKR Capital Markets purchased (or agreed to purchase) 200,000 shares of the Series B Convertible Stock (not the 400,000 shares disclosed); and Citi purchased (or agreed to purchase) 400,000 shares of the Series B Convertible Stock (not the 200,000 shares disclosed).
Great article! The author mentions ALJJ. They also have/had (I don't know) usable NOLs he wrote.
The chart of ALJJ has also an amazing Accum/Dist line, almost comparable to $WMIH
Look at the ALJJ 3-year-daily chart with Accum/Dist line:
http://scharts.co/1yU9Bgh
Pure accumulation, with 4 sharp rises in PPS coupled with high volume!!!
The run of the ALJJ PPS is even better than $WMIH IMO, from somewhere below $0.25 to $4.65 now, and almost $5.00 in 12/2014!!!
I expect the same sharp rises with high volume for WMIH when they announce one or more M&As step-by-step, or a big up-gap if it is only one big acquisition!
http://seekingalpha.com/article/3091686-a-catalyst-for-wmi-holdings-to-finally-begin-utilizing-their-nols
You are wrong, please read this post and the referenced one:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113014715
Read this post please, it should clarify that issue:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=112471076
It is all about WMIs stock "...ISSUED prior to..." and that is actually all of WMI's stock, even if YOU bought it in the late 2009 or 2010 as I did...
The BOD says:
http://www.sec.gov/Archives/edgar/data/933136/000119312515001790/d845621dex31.htm
SECTION 23. Listing. (a) The Corporation hereby covenants and agrees to use its reasonable efforts to list Common Stock on a national securities exchange after becoming eligible to do so and upon approval of the Board of Directors.
I agree!
But although it is not a MUST, I think it is very likely that an M&A will be announced on or before July 5, 2015, because of many reasons!
Sorry Blue, but 11. and 12. are wrong (I assume you mean 2015)!
11. Uplisting required by July 5.
12. Preferred converted by July 5. That means first M&A must be completed by July 5.
SECTION 6. Mandatory Redemption. (a) Except as described in Section 6(b), the Corporation shall be required to redeem all outstanding shares of the Series B Preferred Stock
9
(including unconverted shares of the Series B Preferred Stock remaining after any Mandatory Conversion, including Unconverted Shares), if any, unless such shares of the Series B Preferred Stock have been previously repurchased at the option of the Holder pursuant to a Put Event or mandatorily converted (including in a Partial Conversion), on the third anniversary of the Issue Date (the “Mandatory Redemption Date”), out of funds lawfully available for payment, at a price equal to $1,000 per share of the Series B Preferred Stock, plus an amount equal to accrued and unpaid dividends, if any, whether or not declared (the “Mandatory Redemption Price”).
(b) If, prior to the Mandatory Redemption Date, the Corporation has publicly announced that it has entered into a definitive agreement for an Acquisition, the Mandatory Redemption Date shall be extended to the earlier to occur of:
(i) July 5, 2018; and
(ii) the day immediately following (x) the date such definitive agreement is terminated or (y) the date such Acquisition is closed.
Chart: Breakout of bullish rectangle
Golden Cross occurred yesterday, RSI is very bullish, CMF positive
The PPS left the bullish rectangle upwards, which could lead to another increase with the length of the flag pole (up to $2.85 IMO)
ADX >= 25 confirms uptrend (24 at the moment, but I expect > 25 today)
Next resistance (red lines) @ $2.65 and $2.70, strong support at green line
$WMIH chart:
Chart courtesy of StockCharts.com
Yes, good explanation, that seems to be the reason!!!
BTW, L2 dead at the moment...
http://cdn1.boardpost.net/quote.php