RE:I called John last night Viking
i know this stock and the mgmt have been consistent for many years. I followed and owned it at varying levels since before it was power metals. The company was into a uranium play when I bought it the first time.
This management is pretty savvy. They can rally the company in the market really well. I've followed a few big rally's now.
I have also owned other penny's and ridden them to bankruptcy because I believe they had something special.
My advice is to remember this is a highly speculative stock at all times! It will not behave like a big cap stock. The upside gains are massive percentages and so are the downside moves. It is also subject to very long periods of zero or near zero price movement. You can get locked in here for years below purchase value if the story ends.
I post what I am thinking will happen here for others. I am wrong half the time still I'm sure. I thought we were set to move higher after consolidating around the .40 and .45 mark but it didn't happen.
The Pre market showed a bid and ask two cents below previous day each day the last week That to me fits with a market maker walking it down. I think they walked it down to the resistance at .28- .30 and they are grabbing what they can get before news releases. I think they'll play around here getting shares as they can and move it back up just as quick. i think the stock is then going to rally into new highs in the news! That's when you remember it's highly speculative and take some money off the table because it will retest lower again for sure!
The other play is this is now done and will move back to lows for a long time. I don't think that's the case but it could be so only stay or play with what you can't wait out for a good long time!
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