Re: Can anyone say....
in response to
by
posted on
Sep 24, 2019 06:59PM
I very much doubt the share price is falling because of someone knowing something. I prefer to think in terms of "wisdom of the crowds"...and right now, the crowds are in pure panic mode.
If you look at the share price, it has been drooping for a long time. We are now well below 50/100/200 day moving averages of $2.80/$3.09/$3.18. We are even below 100 week moving average which came in at 2.65$. The 200 week moving average comes in at $2.13...and I am assuming that the bounce will start around there. If we breach that, then $2.01 is indeed the next fibonacci support. I focus on moving averages as that is the price you get from dollar cost averaging...on average buying price.
Technically speaking, we are setting up for a strong bounce. RSI is below 30 at 25. Volumes at 588k shares today at a very low price is a classic bottom. On balance volume is absolutely straight down...pure panic. The only thing we now need is fundamentally positive news...