It is based on the ease with which we passed several resistance levels, on the lack of huge volume, and the fact that we closed above the last resistance level, with the next resistance level at .40 to .50 (more of a range where I expect it to trade next, range where it traded on the way up last time, and range where it had support last time, going back 2 years). We have not even hit a 1 million share day yet.
I don't think there was substantial shorting left when the rally began. I think this has been 99% real buyers.
The private offering I mentioned again earlier today, had some restricted warrants at .40 and .50, with 6 and 12 month life spans (very short times)IIRC, so that is another reason I expect to see that target range hit. If it gets to .60/share this coming week then something really major is going on, buyout or JV must be underway (and far less dilution than expected!!!), or there is just an unexpected irrational feeding frenzy that got out of control, LOL!!!! If it gets to .50, I expect that .40 will be defended!!!
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
