beacon: Funny on that .40 "psychological hurdle" because if you recall from the first run up to .75 last year we didn't even settle in the .40's until on the way back down, a few months later. Went from .39 something close one day to just over .50 the next, completely clearing the .40 hurdle.
Go figure. Maybe this time they'll just jump to .80! That would be nice! :)
Perhaps, and 40c is a ~50% profit for swingtraders who loaded up at the lower uptrendline and didn't sell on the last trip to .4x, and it's +20% profit from the recent retrace to .33x.
Around 7MM shares traded just a few days ago between .375 and .42x. Somebody bought all those, not that all those buyers would want to be selling them right back here, but part of that volume is probably a little bit of resistance here.
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