Volume / pace has slowed down, 2.12 bottom support with volume and two nice reversal candles while hovering in complete oversold territory with RSI 28 - 38, now 30.
Fundamentals render current price ridiculous cheap, i.e.
- $2.12 P/S 0.29
- $3.63 P/S 0.50
- $7.25 P/S 1.00
- $23/sh equity
- OS 5.17M
- Float below 2.8M, probably even below 2M, company insider hold 2.34M or 45.2% of OS
2Q17 ER probably will be similar to 2Q16, i.e. a seasonal revenue bump followed or even precluded by receiving the license for the new exchange business.
A similar run-up from the lows has been charted in 2016 around this time, i.e. post 1Q16 into 2Q16 ER.
The remaining share registration of last offering has even been canceled as described in the blog entry and company is ready for a turnaround removing seasonal fluctuations.
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