Not everything is about the charts. Some people trade more on technicals (what charts tell them), and others on company developments and fundamentals. In fact, both are essential to good DD.
But the basic reason POWN has not taken a complete nose dive is because a whole slew of new buying in recent weeks has created a new support level from the old ones back in the teens to the 50s.
Also, you have a lot of people here on iHub and elsewhere who have done enough DD to make them hold tight to their shares. Such investors, and I am one of them, know that no stock can be in the green everyday. You must expect retraces, setbacks, bored penny stock investors, flippers, and bashers.
You just have to ask yourself: has anything fundamentally changed that warrants a sell off in general, or me selling in particular?
My answer to that question is unequivocally NO. I only wish I had some spare cash in my broker account so that I could buy POWN when it dipped in the .50s. A year to a year and half from know, even the current price of .64 (2:06 pm EDT) will seem like a bargain from heaven.
These are my convictions and each person must make their own investment decisions.
GLTA longs
Your friendly neighborhood GreenMan
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