GREY:LSTMF - Post by User
Comment by
Slippery_Peteon Jul 21, 2015 1:16am
91 Views
Post# 23943545
RE:Short term = oversold condition
RE:Short term = oversold conditionTruth Logic, from a technical point of view one would assume a correction would happen, but keep in mind that since inception the majority of the time this stock has been oversold and has not recovered - always one step forward and two steps back. With no cayalyst on the horizon within the stock and from the market I do not see much upside, but then again I am not a professional stock guru and maybe you see something.... I think one of the only benefits for shareholders the last while is Wright is on a leash from the bankers now and cannot spend wildly - overpaying for assests.
If you do end up taking a position on the stock, good luck, but I think I will wait for some catalyst in the market or on the stock before even venturing into this beast again. LTS is one bipolar stock - almost trading like a venture stock with the amount of fluctuation.
TruthLogic wrote: Looking at the trading patterns, I think we are oversold at 76cents.
We are at 1/10 52 week highs. We are also just above some technical support levels.
There's a natural tendency to rebound during these oversold conditions but not sure there is any catalyst to do it.
I might take a position just for the short term here. highrider2, are you ok with that? LOL