On Friday this stock traded at $2.47"The recovery off the low at $2.47 was both spontaneous and quick.
The stock has been stretched to the downside.
Personally I'd put maximum downside at $2.50, but I doubt we'll see a close there going forward.
$2.50 seems a likely low risk/high reward entry point.
Momentum players are all over this, and it plays both ways.
The line of least resistance is up, and only a few days after making new friends highs the stock is cheap again.
Don't worry that that this is going straight back down again.
No way.
This is a stock to buy on weakness.
Recent highs will fall and again soon enough.
The stock has been proving its strength for months.
Now is not the time to worry.
Now is the time to look forward to the next leg higher."
It closed at $2.53 that day.
It hasn't closed below $2.71 since.
Today this stock is whithin striking distance of new highs on a couple of million shares given the proper "incentive".