GREY:XEBEQ - Post by User
Post by
tamaracktopon Oct 16, 2020 1:42pm
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Post# 31729261
What's with the spread ?
What's with the spread ?Is that for real? 6 cents between the bid and ask? Imagine what a little buying going into the close would do. A little buying is just what we might see in anticipation of news perhaps early next week.
Actually we are in a sweet spot here. Yesterday was quite impressive. It was the kind of day when you didn't have to look at a daily chart to know how the day played out. All you needed to know was the open, high, low, and close.
After opening at $5.02, the stock hit a low of $4.97. If this stock was weak, that little foray below $5 would very likely have elicited selling. It didn't. In fact the stock rallied to trade up on the day in the afternoon, only to settle back to the $5.20 close. Very impressive. $5 was a new high on August 10th, when it was turned back and dropped all the way to $3.94 on September 11th.... 9/11
Resistance, once broken, becomes support. I'm liking that today's low was $5.12
We are sitting pretty. This is a rotational market, with money flows moving from one sector to another. Money isn't coming out of the market to go into bonds.
This whole space has had quite the stealth correction. Today Ballard traded 17% off its highs, while FuelCell is off 32%. Plug has fallen 15% in a matter of days.
Yet here's Xebec, 6% off its all time high trade, and only 4% from its closing high. Spitting distance. You really couldn't ask for a better scenario.