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breakout from downward trend?

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yanivf   Friday, 12/02/05 04:13:13 PM
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breakout from downward trend?

new CEO looks like a good excuse to try breaking out from a downward trend that started 2 years ago, on November 2003.
yesterday (thursday) was a huge volume day (relatively speaking, of course...) with a 20% spike at one point.
stock closed just below said trend, but above both its 200 and 50 day MAs.
if it manages to really break out, then next resistance is at 0.68, then 0.80, then 0.93.

with around 26M shares outstanding (on 2nd Q report), it's currently a 13M$ company with sales topping 70M annually (80M if we're lucky...).
still losing (not terribly though; "only" 11 cents a share for 1st 6 months), and carrying lots of debt. but the silver lining seems a bit clearer now.

here's their last report:

and last PRs:

[this message is posted before knowing results of todays trading action]
[and thanks for the invite, midas]

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