If the selling is indeed done which would be the reason they had the filing yesterday, that coupled with the analyst coverage should steadily move this stock up.
Funny thing, the charts are saying one thing. But what's missing from the technical analysis is the reality of what is/has been occuring. Many are saying dilution, dilution, dilution when in fact that is a small part of it. What's happened over the past week has made the charts look as though there is negative downward pressure on them and that this stock is doomed to keep falling to find support. But that's only a part of the picture. While it is true there has been downward pressure, it hasn't been because sentiment in the company or the fundamentals have changed. We've learned through transparent filings that warrants were exercised and that more than likely has created massive, relentless downward pressure for the past week or so. That is a big difference that a chart won't tell you. So assuming heavy warrant exercise were to continue indefinitely, the charts will tell you right. But if the selling is indeed finished as I think most expect it is, then I think we can expect some instant relief. But also with all the nosense about REG SHO, etc., who knows what kind of games are being played by those who are financially vulnerable.
But this is pennyville and up can be down and black can be white. Good luck, I think we'll be fine over the next 30 days.
