Atlantic Power Corp. (AT)

[renoldman]

Well there are a few things to consider ...

Who is buying ?

Let's just say that someone who sold at $10 + are looking at 40% profits ...

There are also people who can see that we are trading at 70% discount to book value ($8).

Yield hunters are likely turned off for now ....

Who is selling ?

A number of funds who are/were forced to sell due to the dividend cut.

IMO, that's why we crashed on Mar. 4 .... funds were forced to sell (shorts were happy to buy).

Were do I see this going?

It is hard to say.

But, I can see that the selling has subsided (at this level) and shorts are covering.

So, that likely means up.

Can't really look at the chart because there is too little information.

If I did, I would expect a little resistance at $5.70 and then at $6 (because it is at $). Beyond this, there isn't much to say.