Tuesday, November 14, 2017 8:36:19 AM
Fidelity has now dropped resistance to 2.50 from 5.20. Why? Seems to me that 2.50 has been support more than it's been resistance. I can't see why this company would release an 'At the Market' S-3 only to sell shares cheaper than what they are trading at now. That makes no sense. If they wanted to do that they could have done a regular offering and set a price below market like all other companies do and the SP would have for surely fallen.
The bollinger bands are now squeezed up real tight and it's trading in the middle. Now instead of a move up to 5.20 we now have to pay attention to a move down to support at 1.75? The reason companies do a 'At the Market' offering is they expect the SP to increase. That increase should have occurred with the .44 profit on 128 million in revenue that no large news organization reported. Need to ask myself... why?
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