RE:Weekly Chart Uh-OhPamplonaTrader wrote: Those who bought on hopes that a white knight will emerge will begin selling as the vote approaches. Even if the deal gets voted down (I think the deal will go through) activism is needed in order to repair the perceived issues with management. As well, FCU will battle once again with selling pressure due to tax-loss season.
FCU is dominated by two kinds of shareholders:
(1) The shareholders that LIKE the deal and who will be voting YES. These are likely shareholders with longer time horizons; and
(2) Traders and longs who are holding out on hopes that a white knight will emerge.
The experienced investors and traders that DO NOT LIKE the deal are already out, just look at price action since the deal was announced! I suspect that those inexperienced retail investors who are holding to vote NO are vastly outnumbered and will be greatly disappointed when the time comes.