RE: RE: Bought today at $1.63Well oilandgas111, if I did make a mistake, it wouldn't be the first time! haha. I see your point on price for cash flow. I agree the next stop is $1.00, but that is contingent on the $1.60-$1.50 range failing to be upheld. Techncially speaking, $1.50 is just as significant as $1.00 for TNP, based on it's historical performance. Also, TNP is currently more oversold on weekly indicators than it was in 2009. The price is higher than that period whilst being more oversold, so that's bullish sign over the longer-term.
My personal feeling is we are in for a bounce to $2.00, before any kind of downtrend continuation. Also, a bounce to $2.00 would be ~Fib-38.2% retracement from the breakdown of support at around $2.80, to the recent low of $1.51. That techncial tid-bit could be helping to predict at least some kind of short-term bottom happening. In any case, I like to think a good rally always begins when things can't appear any worse!
Good luck to you too,