Ok - Tech analysis 101 - When a stock makes a new high and then makes a correction and rallies back again to it's previous high or even slightly beyond and the stochastic and MACD indicators do not follow suit during the latter rally (which is the case here), it is definitely WEAK and an early indication of an impending sell signal. If prices fall off tomorrow and Friday and you revisit the chart, what you have is a double top with a confirming divergent sell signal in both the MACD and Stochastic. I define that as decidedly weak. What do you define it as? Like I said, if I had any of this stock, I would have sold it all after noon today. The volume has been peaking for the entire formation of the top indicating that a lot of other people have been taking profits here also. Because of the double top formation I would not expect support above or at $2.00 to hold for long. I would be a buyer below $2.00 on firm support and a confirmed buy signal. There is also a new moon on June 2nd. A savvy technical trader know that within 3 days of a new moon, a top heavy market will likely fall sharply. The reverse is true for the full moon. If you doubt that, it's really easy to prove. Just get a chart of any major market indicator or stock you are following for about 10 years and plot the full and new moons on the chart and see what that shows you. Our emotions give way to the influences of the moon and stock prices give way to emotions of the investors.
