End of Day TARSI (Relative Strength Index): sitting at 41, can test 30 before finding a bottom.
MA50 and EMA20 getting very close to eachother. If the EMA20 crosses over the MA50, it represents a long downturn in the price of the stock...a few days still before that could happen.
MACD and Full Sto still heading down with lots of room to go down further before finding a bottom.
Three red candles in a row with volumes increasing on the sell side.
Basically absolutely nothing to say this sell off is going to turn around anytime soon.
The stock is going to close at or near its low again, adding to the downward pressure of the play.
As stated before, .87 is next support line on the way down.
Since $1.01 was initially support, with support broken, it now becomes resistance.
The trader is on the sidelines with cash waiting for either a rabbit out of the company's bag of tricks or until the 35 million shares have been sold off into the market and see where the final resting place is.
Happy Trading all,
Mediascan