RE:If in Sue we trust...NoRetire wrote: Why are we down here? Opportunity? I thought so and grabbed 1000 more
That's the spirit!
Exactly the right modus operandi for this stock, in moderation.
This has been a "buy on weakness" stock for well over four months now.
Ever since the low.
Look at a chart, and count the higher lows and higher highs since mid September.
There are lots of them.
Every time this stock makes a new high there are reams of people kicking themselves thinking " Damn! I knew I should have bought more when it sold off."
Forget the Area chart, look at the OHLC chart.
The open-high-low-close chart.
Each vertical line shows the stock's range that day.
The little horizontal line on the left side of the vertical line shows where the stock opened.
The one on the right shows where it closed.
A look at the OHLC chart shows that the uplegs in this stock have usually begun with upside reversals on volume.
In fact, the latest upleg began on January 17th, when the stock reversed from its low at $1.80 to close at its high at $2.13.
I pointed out that reversal at mid-day that very day when I posted this:
"The stock is hanging in nicely at $1.93, only three cents off its high of the day after an 8% reversal off the low on 254,000 shares at 12:40 pm, already better than the 30-day average volume of 229,000.
I'd bet it doesn't trade much more than 40k shares in the next hour-and-a-half over the lunchtime lull, but a resurgence of volume towards the close similar to what we saw in the first hour could still take this nicely higher on the day.
Very possibly setting up for the next upleg."
I'm sure some people dismiss my opinions as being biased because I'm unashamedly bullish on Exro, but I do try to remain objective and reasonable in my assessments.
I truly believe the next upleg will surprise everyone, will come out of nowhere, and will begin with an upside reversal on volume.
I'm not so presumptuous as to suggest that today is the day, but the volume with one hour to go doesn't rule it out