RE:Was that it?tamaracktop wrote: Was $2.28 the extent of the gap-filling I expected? It certainly fits the bill volume-wise, and $2.28 is half the gap from $2.19 to $2.35. $2.30 now on only 92,000 shares at noon. If it rallies to $2.40+ on volume at the end of the day, it's likely this consolidation of last Wednesday's big move is now over. That's my opinion anyway. It's touch and go, but I'd rather it traded down to the low $2.20's first.
Xebec traded 80,000 shares of the 237,000 it traded all day in the final hour, as it recovered from its $2.25 low at 2:10 pm.
Not particularly impressive.
Maybe $2.25 marks the low of this 3-day consolidation, maybe not.
Yesterday was hardly conclusive, and did very little technically other than adding another trading day to its "post-news settling down."
Settling down in the $2.20's would be quite pleasant an outcome for those wringing their hands back on March 7th, when the stock closed at $1.50.
Consolidating up 50% after a big move higher in a few short weeks is more than just satisfactory.
If it trades lower at the open it will probably hold $2.20, but whether or not it opens lower, it's likley 3 full days of post-news trading is enough to establish a new base for the next move higher.