Recap of the day Pre Market: Big news. Resolved agreement with Apple after a 10 year battle. YAY!
Open: Opened and traded above the 200DMA. Yes this Pig can fly. YES!!! I hate that VG guy. He will burn today!!! (even though he isn't short)
10AM: Ray Jay... Wait not so fast. This might be worth $40 million. Alternatively, at a basic minimum it helps with the sale of WiLan. Wait what? I thought we were flying to the moon. Ray is Cray! Screw Ray. This is going to the moon
10:30AM: Cannacord... whoa Lassie... calm down boy. This news release has no specifics. I am going to write a note to my readers with it titled "Apple saga ends with terms undisclosed"... (Doug Taylor loves Star Wars apparently)... Reinvokes his analysis where he gutted ITS net of debt to 1.30/ share. Says at 2.75 it includes the full Apple win + another $70 million for WiLan. So Yeah, at 2.75 he is thinking a $200M sale. But, there are no terms or specifics yet. Says best to wait.
11AM: VG says... technically the chart is shaping up to be a bust. You are about to see a mid day meltdown.
Then this happened....
2.57
...
2.56
...
2.55
...
2.54
...
2.53
...
2.52
...
2.52
...
2.51
...
2.50
...
2.49
...
2.48
...
2.47
...
2.46
...
2.45
...
2.44
...
2.43
...
2.42
...
2.41
...
2.40
...
2.39
...
2.38
...
2.37
...
2.36
...
2.35
...
2.34
...
2.33
...
2.32
...
2.31
Monkey hammered at 200 DMA
Then kicked in the groin at the 50 DMA
Closed at the lowest point of the day at 2.31.
Big Fat Black Candlestick on Apple News Day.
You need a pre announcement tomorrow or an announcement completing the sale of WiLan. Otherwise read the article below.
https://www.oreilly.com/library/view/candlestick-charting-for/9781118051900/section2.1.3.xhtml