RE:RE:RE:Technical Analysis - PYR Very BearishFully agree on that. The stock rocket to 6 $ on hype and big anticipation. Most longs took profit ( I hope ) on the way up. The key is to be invest accordingly to your risk tolerance. Its still a waiting game and we are certainly closer now than we were in august, all with a lower premium to pay... Being long here means you believe the story will unfold, otherwise short it down to 0.50$
SigmundsID wrote: As usual, Arnold Layne offers some great and very penetrating insight.
Great news would of course change everything.
I would caution against too much speculation on this though. If you look back you might notice that this stock has actually responded rather poorly to nearly every news release since Sept. Including our most recent earnings report! How strange is that?
To me this indicates that the SP was actually quite bloated by the end of August and we are now finally settling around the true market value of this stock.
ArnoldLayne wrote: A well anticipated news release can also invalidate all your TA. And your 3$ entry point...
SigmundsID wrote:
CAUTION: We are currently trading under all moving averages, except the 200 day EMA - which is at $3.10 (consider this a possible short term PT and resistence). The 200 day SMA is $2.81
The RSI is currently sitting at 46.05 - while not bad, seems to indicate weak buying pressure.
Volume today is about 62,000 - well below our average of 375,000: this is very bearish and tells u that the market is currently very uninterested in this stock
We are currently trading below the VWAP at $3.75
Overalll technical indicators suggest a very bearish chart - I would expect the price to continue to fall in the near term, likely toward the 200 day EMA - we could be testing $3 by Christmas at this rate