Looks RED in pre-market and down on initial opening trades. Bid going lower now to $6.40, no Bid support appears here yet.
It's still in weakness looks like. I guess the "predictions" on that other "wonderful site" (claimed reversal and big buying today) are gonna be wrong again today. Guess maybe the charts being used for the leader's "predicting powers" are all out of adjustment as usual over there or something? "massive flow of money" coming in??
Opening to the weak side is not a good sign IMO. There's no buying interest at all in here it seems.
50 DMA is at $6.40 and it looks like it's gonna test it right now
200 DMA is way up at $6.94
So it can't even start a technical trend reversal and get into an actual uptrend until well above $6.94 long enough to get the 50 DMA back above the 200 DMA where it's supposed to be- if not trading in a down-trend. The 50 DMA crossing under the 200 DMA for technical traders is often called a "death cross"- it's not good for a stock that now may be coming up on automated trading algo's of the Nasdaq big boys. They use "death cross" patterns for everything from watching the DOW or S&P major indices as key indicators to individual technical trades- especially shorts from what I've read.
Thus, the stock is in a sustained down trend and the 50 DMA is actually inverted, under the 200 DMA which to the pro traders now of Nasdaq-ville and their auto trading algo's is a short target alert IMO. They short most often on technical weakness- it's largely automated now.
Being a recent OTC convert with technical weakness showing = possible short target for Nasdaq pro trading desks and worst of all the hedgey fund big boys. It doesn't take much right now, dollar wise, to drive a weak stock like this, that much lower.
It's gonna take some major, big time news and buying pressure on volume IMO to get this to even try and turn around and get back into even the beginnings of an actual uptrend and build some support. Right now- it's the slow bleed down looks like to me.
