GREY:XEBEQ - Post by User
Comment by
tamaracktopon Feb 24, 2021 12:00pm
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Post# 32647405
RE:I don't see a bottom here
RE:I don't see a bottom here
Maybe this sector is in for a dead-cat bounce. It probably is, but any bounce, however strong, will very likely be followed by a retest, unless the low is characterized by a capitulation where the stock is being dumped like everyone and their brother have just given up. That's the type of low that wouldn't necessarily retest. If that happens, it will probably recover, and continue to recover, while former shareholders who have been flushed out watch from the sidelines in disbelief.[/quote]
Another excerpt from last Thursday evening's post.
It looks to me that Yesterday's sell-off may in fact have been capitulation. Although the volume wasn't extraordinary, at 1.23 million shares, the stock did recover from being down over 10% at $7.61, a 3 month low, to close only 2.2% lower.
Friday's recovery the day after that post, to close up 4.5% at $9.03, was the dead cat bounce.
The market threw a head fake yesterday. Again, why people would sell this 15 minutes into the session in the $7.60's yesterday, when the stock was already down 10% on the day, is beyond me.
Those are the people who are likely to be "the former shareholders who have been flushd out watch from the sidelines in disbelief."