RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Price actionLOL you are so predictable... . The fundamentals are not as important but they still exist man. An example of this is increased political support in the space.
If we look technical chart we can find levels of previous support and resistance, Theyre currently are two obvious levels around the $2 and $1 area. Given that the volume is decreasing and we have no support until $2. I could see a slow trickle down without a positive catalyst. Since we agree this is a spec play, the technical are really all that matter when predicting future price targets. Right now the momentum is to the downside so I look to areas of previous support. Also these large gaps are typically shorted after a big pump.
Does this provide you enough reasoning?
So again, now that we have cleared up that fundamentals exist, we can look to the technicals to find a future price. So why the heck would I buy at 3 plus dollars after a big spec pump?!! Because we are in a short-mid term bearish trend and odds are I will make a lot more buying at $1-2. Technical Technicals Technicals, This is a traders stock at the moment.