Very true. C is a very popular stock. But, at the same time, it's been slowly trickling away it's pre-market gains. Before the govt. stopped selling (right before the earnings release), $4.07 was a very strong resistance line. Now that the govt has resumed selling, $4.07 again, is becoming a very strong resistance line.
The question is: Can $4.07 be broken, while the govt is selling their shares? Until I see otherwise, I'd have to lean towards no. In other words, when this stock approaches $4.05, you have to think about selling. Let it dip, pick up shares, sell near $4.07. Repeat. That's what I hope anyway. As the govt being involved, is a dream for swing traders.
The problem I see now is the trading gap. I'd like it a little wider. Or, let's push through $4.07 and create a new resistance line. It will be interesting to see what happens.
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