Looking good! STWS may be a tax loss bounce candidate for a strong January, or even late December. With the stock significantly down from its 52 week highs, STWS looks to be putting in a technical bottom. With the deadline for tax loss selling fast approaching (December 31), the shift from relentless selling to opportunistic buying may be close at hand. As I always point out, one investors tax loss sale is another's tremendous buying opportunity.
STWS has hit trader scans for microcap stocks trading near their 52-week lows and substantially lower than their 52 week highs. As sellers book a tax loss, potential buyers understandably delay their buying on the assumption that the price will get even lower. Once that trend is broken, buyers looking to take
advantage of the "sold out" price return to the market--often generating a reversal in the trend to the upside in the near term.
The Relative Strength Index (RSI) is at a low 40. Near term resistance appears to be at $0.11--80% higher than the current price.
As always, there are no guarantees nor iron-clad method to forecast stock price movement, but the scenario is in place for more new potential investors to begin to follow
STWS.
