RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Analysts Ratings Summary FYIExcellent.
I didn't much believe in technicals either when I first became a broker at RBC back when the Earth was still cooling.
At first I used to wonder "what are all these people doing staring at all these stupid charts?"
A few years of it changed that opinion in a big way.
Leon Tuey was a frequent guest on BNN at the time.
He was a big technician at RBC that mentored me to some extent.
Anyway, there's a well-known expression amongst technicians that it something of a Mantra.
"Resistance, once broken, becomes support"
The last time this stock closed above $2.25 was May 17th, two days after the financing was announced.
The stock has never closed above $2.25 since then, until today.
Any true technician will tell you that $2.25 is now a support level closing basis.
There are a lot of technicians.
These are people that have great influence.
If this is true, and my preamble is definitely true, then there are many influential players who will see the downside henceforth as being very limited vs the upside.
Today had a big effect on the market's perception of this stock's risk/reward parameters.