ECOB might turnaround
Here is why I think, this stock is a BUY and might at least double during the next days:
1. High reward/risk ratio: The $0.1 region could very well be the bottom. Considering the next big resistance at $0.4, there is much more to win (over +200%), than to lose.
2. The new press release should penetrate demand for shares.
3. Based on yahoo finance and msn money, the dilution hasn't been too big during the last quarters, which means, that supply of shares is not ridiculous high (compared to the horrendous dilution on e.g. LFBG)
-> supply and demand determine the price
4. Since the stock has been in a downtrend for several months (very oversold) there could be some shorts covering, when they realize that this company is a sustainable investment.
Let me know what you guys think.
But I think, I will get a few thousand shares tomorrow. I was just waiting and see how ECOB closes today. Since it closed at it's high of today, I am pretty confident that the little rally will continue the next days.
