RE:Bottom?I dont like giving TA in middle of the day, especially on an illiquid trading stock like Score Media but only free time I have today is now so here is my Technical Accessment at this given moment.
I concur with tradetofreedom about Accum/Distribution and people more comfortable at $0.57 than they are at $0.60 right now, hence such little volume today.
Technical Analysis (as of Oct 30)
Range: $0.55 (support) to $0.65 (resistance we need to hit/break through) - Take $0.55 high from August 01
- Closed @ $0.54 on October 01
- Low of $0.55 again on October 17 & then on 18 came to low of $0.56 but stayed above $0.55
So we have had a few bounces off $0.55 but stay at/above it!
MACD: - Still less than 0 (-0.01)
- Histogram is at 0
- Trigger is at -0.01
Need a break and close above $0.60 in next couple trading days to get a Positive Cross up on MACD... like tradetofreedom stated, somewhat has flatlined as we seem to be changing from a distribution to accumulation phase at this lower end of the range.
SLOW STOCHASTICS: - Crossed DOWN two days ago which is NEGATIVE
- %K = 37.14 %D= 39.02
I want to see %K above 60! Last time it was at 60+ was on Sept 9th when we opened @0.82
VOLUME: Besides yesterdays 550K Large Volume Day (seemed to be some interbrokerage exchanges flippers sellers to NEW buyers - looked like coordinated crosses with some pretty big blocks for this stock)
Unless Sellers completely dry we are not going anywhere fast without 400-500K+ Trading Volume in my opinion.
CONCLUSION BASED ON TECHNICALS/RECENT EARNING CALL: Investment public based on my charts, telling me we are forming a support in range of $0.55 - $0.65 while Score adds more features and sports coverage on Score BET app to increase revenue potential.
Market also is waiting for NEW STATES to be announced.... each announcement in New State will provide a POP in SP in my opinion. Score will be on a more even playing field in newer states that legislate sports betting, whereas, we are playing catch up in NJ where market is primarily dominated by two biggest players!
Ultimately I want to see a break and close ABOVE $0.65 before I wake up from this sleeper Score has become the last two months. HOLD at this point, NOT ACCUMULATE.