Nexus Energy Services Inc (IBGR)

[dmlabuda]

The bears are back! There is a bearish divergence now on the PHAR daily price chart. It's not official until the market closes but, at this point. In my opinion, caution is in order. The trend is still down so the bears are still in control. Once again, the volume factor is critical here. The bulls could buy in force and drive the bears into covering their shorts and we could have a very nice rally on out hands but, at the present time, the lack of volume allows the bears to be pushy and if they push again tomorrow, we could be heading for new lows instead of a rally to the 200 day MA which is possible based on the charts but, a body in motion tends to remain in motion until acted upon by an outside force and when it comes to stocks, that force is volume.
http://stockcharts.com/h-sc/ui?s=PHAR&p=D&yr=0&mn=5&dy=0&id=p85486772433&a=248902915&listNum=1