RE:RE:Too early to call $4.20 a new floorgobomber wrote: gobomber wrote: I find it reassuring that the SP appears to be stable around $4.20 for the last three days. This is way too early to jump to conclusion and call this a floor considering that it has been only three days and the daily volumes have been rather low or average at best over that period.
Give it another week or so at $4.20 or better, with descent daily volumes and that will gave us the assurance we need to call it a floor.
The SP has been fluctuating now above $4.20 since end of first week of May. In the last three week, there were 20 to 30 millions transactions at above $4.20. Consequently, it is now reasonably safe to assume that $4.20 is a relatively solid floor. I think it is a good entry point if you have money to invest in this stock.
Yesterday, the SP went down to $4.20 for a while, to bounce right back and closing at $4.27, I see this as another confirmation that $4.20 is a rather solid floor until major news or rumors are published.