I was considering asking a similar question. I think that the volume has settled down and risk of another drop has diminished. It looks like it's a good opportunity to buy at but I was curious what Napz and others thought.
I don't have any funds available to invest ATM but I've been trying to learn the behavior of TECO.
A nickel was first line of support at the upper levels. It held for 12 trading days. We are holding the 50 day moving average just fine right now with no daily closes below it. In fact ever since the dump out on Tuesday we have been seeing higher lows on the daily chart. The trend is still up and the macro pattern is still bullish.
The 200 day moving average has been rock solid going back to mid September. That's why there is a wall of bids sitting down at 4 cents. There were some instances where I saw in excess of 10 million shares on the bid in that vicinity. Market makers want to push it down there to load up but we keep cutting in line.
I'm on autopilot with this stock. If it gets to the 200 DMA, I will buy with both fists. Other than that it's just a waiting game, which is why I'm focused on other stocks right now. Good luck and have a nice weekend.
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