I said it yesterday ie the drop in fcel will be attrributed to the drop in the market. Yet, for over a year the market rose to new heights while FCEL dropped to its lowest level. Analysts called for a SELL, losses mounted, technicals were broken, and dilution came . The company showed no evidence of a turnaround and the largest loss/sh was in the latest report.
While there is support in the $3.80 - $4,00 range there is no fundamental evidence why it should hold. The wisdom of investing was and is with those astute investors who exited when the trend broke at 29 while the BULLS screamed it was going higher . They continued to pound the table at each drop lower. The result is clear.
With the Feds decision coming on the 21st ( 75-100 basis points), what possible logical reason would an investor with any investment savvy buy this penny stock now or by Monday. We know better than to get in front of an oncoming train.
Unfortunately for the Bulls, they're stuck with holding the stock in the face of ongoing selling by others including FCEL itself.
The time to have been cautious was at the $29.30 high). Too late for caution now. Now they're forced to HOLD .
As anyone who read the quarterly saw, the increase in Sales was accompanied by a 100% increase in losses/sh and total $$$ lost. That shows, costs, expenses, delays eating into any chance of a profit. That is expected to continue as 11 professional analysts see no near term catalysts, including sales increases, that will prevent losses through 2025..
The 8 DEAD CAT BOUNCE MAY WELL HAVE BEEN SHORT LIVED. $4.50 - $5.00 was a feasible point to bet on last week. Not now!
Now's the time to buckle up and hope for a miracle to prevent this pos from approaching a new low in the $2's.
Bulls need some life support to prevent that. Words won't do it . Sales won't do it.
And the "manipulation" stpry is still a bunch of BS.
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