RE:The facts, and my own personal conclusiontamaracktop wrote: This stock traded in a tight range for very nearly two months
Never once below $2.02 and never once above $2.25 between May 24th and July 10th.
Most here were tired of it.
Everyone knew it would exit this range at some point.
Some worried it would exit on the downside.
It didn't.
Last Tuesday it closed at $2.30, up 13 cents on 533,000 shares, having traded as high as $2.38.
Remember this?
"Anyway, there's a well-known expression amongst technicians that it something of a Mantra.
"Resistance, once broken, becomes support"
The last time this stock closed above $2.25 was May 17th, two days after the financing was announced.
The stock has never closed above $2.25 since then, until today.
Any true technician will tell you that $2.25 is now a support level closing basis."
The low trade on Wednesday was $2.26. It closed at $2.36.
The low trade on Friday was $2.26. It closed at $2.35.
It's traded as high as $2.55, on Thursday
Not only has the stock broken out, but it's also broken out on volume.
The volume from last Tuesday through Friday totalled 1,587,000m shares.
$2.25 is now major support.
The stock is going higher.
You're blinded by meaningless technicals and ignore events that actually influence trading.
In this case the news was already written on the 10th of July as sloppily documented in the release on the website.
It was bought higher from that day on by those in the know, and the rally was muted by those same flippers and bought deal participants just happy to eke out a profit after being underwater from the get go. $2.25 support? Make sure you update us if that support is breached, because so far you and your technicals are batting zero.