TSXV:OEE.H - Post by User
Comment by
StockMagicianon Nov 01, 2016 3:33pm
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Post# 25411918
RE:Technicals or News
RE:Technicals or NewsI sort of came to the same conclusion, but my reasoning is just that we are likely to close the gap back down to .23.
Ultimately though, I have no idea how low it could go. We have 10 months of in the money buyers followed by two months of underwater buyers. The timing for an extended sell-off couldn't be worse, as the tax loss deadline is not that far away now.
I do think we will see higher highs in 2017 so I consider this dip to be a buying opportunity. Keep a close eye on the chart people, and jump in or average down when you see that bottom turn forming.
ChasingWiLan wrote: I just posted this on TMG board as I also hold that stock, but I reaslise looking at the charts that the exact scenario is playing out here (with some SP changes).
Without news it is reasonable to expect the SP will approach will approach the 50 Day MA, around $0.22 by the end of the week (Just as DYA did after its initial run up) before the next leg higher.
With News a short squeeze will quickly push this over $0.40 IMO.
The question is do you want to chase other spec plays with zero revenue while you wait for 1 of these 2 scenarios to play out?
DYODD
GLTA
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