What's next for Reyna after my 2 predictions became true? I know that I am not popular around here because I have been calling for people to sell before the price of Reyna dropped (see my history). Most of you ignored me but there were a few who reached out to me and was glad they sold in the 70s, 50s and 40s before this massive drop into the 20s. Now, these folks are asking me what's next for Reyna?
I truly believe the real value of this company is in the teen's (10's) range. It is partly due to how difficult it is to do business in a corrupted and dangerous country like Mexico. The other problem is management and the board members, so unless changes happen at the top. I don't have much faith in Reyna as they are wasting cash fast and just collecting money to sit on the board or management position.
So where is it heading next? I believe the internal factors have mostly played themselves out (downward) but now the external factors will determine the next direction unless changes happen at the top in Reyna. I think Reyna going to edge down close to 20 cents where the next major support level is. Whether it breaks or pops back up depends on the overall economic sentiment. It's going to be in the 20-30s range for the next while.