Well it's great that we are going up, even though the volume is not reaching 50 million daily.
That 50 million was a combination of dumb traders, day traders, profit takers, hopefuls, etc. There's currently a hefty group of people that bought at .50 waiting to get out break even. I believe if this holds up between .46-.48 today, tomorrow will need at least 30 million to break .50 soundly.
Let's face it, once .50 is printed, all hell will break loose. It will reach that 30 million, but the price needs to be supported around the .50 level as people take profits, day traders, etc. We all could be surprised and it just take off without effort past .50
No one can predict stocks perfectly, anything can happen. Adjust opinions accordingly to price, action, volume.
When it hit .50 the first time and crashed, it accelerated what should have taken a couple of weeks.
You have those that traded on hype, who got in, made money, and bounced. You have those that bought in at .20 level and below to take profits.
There are also the die hard longs that took profits and are now accumulating even more from the run up and drop down. The hype led to real investors coming in and accumulating. With all the news coming out, many are comfortably going long and believing these levels are still really cheap with the long term potential.
The shorts were able to cover lower, regardless of reason. Now the accumulation from the last couple of trading sessions up have told me that people support these levels. In all honesty, with financials being solid, uplisting, company performance, it justifies the .40 price no problem.
IMO of course.
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