I would have liked to see us hold $1.00 today, but that’s okay. All isn’t lost, yet.
Looking at the hourly chart, we successfully checked the 50-day SMA today. The last time we checked the 50-day SMA, we ran from $.50 to $1.00. I think we needed a good bounce off of the 50-day SMA before we close above $1.00.
The daily chart is still looking pretty good. There is plenty of support at $.88 - .89. Pull backs are typical, and even welcomed, especially after the huge gains we’ve seen these past few days.
Nonetheless, I tend to agree with other posters, and that this ticker needs to settle above $1.00 to avoid a reverse split. Like many others, I think there are institutional investors at work here trying to make that happen. With that being said, we should see $1.00 hold sooner rather than later.
If we can close above $1.00, the next stop is $1.40. Hold on tight, because it’ll likely happen in the next week or two!
