GREY:XEBEQ - Post by User
Post by
tamaracktopon Apr 11, 2022 2:15pm
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Post# 34594428
Daily musings, Just For Fun
Daily musings, Just For Fun It's making a valiant effort.
That quick plunge to $2.02 would have been enough to shake out weak hands and take the stock
lower still, but it didn't.
It didn't.
The stock reversed and climbed back to $2.11 in half an hour against a very negative backdrop.
The big caps in the sector are holding up very well today.
Only moments ago they all showed nice gains.
The stock has been trading in a tight range between $2.04 and $2.06 since 10:20, with a brief stint trading at $2.07,
Between $2.04 and $2.06 for 3 1/2 hours, while the indexes all moved steadily lower.
I think the move from the low at $1.37 to $2.50 in short order marked a change in the long-term trend.
Remember these words
"I think there is tremendous support in the $2.08 area.
The stock may well trade below that price, but support isn't broken till the stock closes below it.
I think that after building a base in the low $2's, Xebec will have a very legitimate shot at trading through $3."
There's plenty of trading left in the day.
Today may actually turn out to be a good one.
A day that marks the end of consolidation and the beginning of a new move higher.
It's the close that counts.