Fascinated to know where all those buyers came from, there was only around 400k of buyers over .20 on open with a decent cap at .27, 'looked like total capitulation' was about to take place but we closed off the bottom without breaking .25 and traded over 2m shares, that's 2m shares, over 5 times the average, bought over .25, even had some moments of strength where it line wiped over 200k @ .26, it makes me wonder if it just played out like a planned assault on nervous nellies after the quarterly, soaking it all up, interested to see any updated broker reports next week.
Weekly close tomorrow should be interesting, not completely convinced it's all downhill here just yet, too much good fortune just over the horizon, but then that's all just potentially good story telling as well until reality plays out, time will tell.
Thought about the write offs, could these have been old stock pre new packaging? or sacrificed for marketing, samples, training etc?, discounted first deliveries?
Sounds like manufacturing must be well on track with excess inventory, I gather this has occurred with the slow down period due to the restructuring of sales, at least supply won't be an issue in the near future, may even give them the ability to increase turnover, Americans love turnover, always prefer to sell you 10 of something at a smaller profit than 1 over priced one. I can see it now, buy ten cardiocel recieve a free set of infusion products.
Bit disappointed more attention wasn't directed at the quarterly release being early, apparently that was extremely important 2 days ago, chicken little stuff, "the sky is falling" and guidance on revenue was met and exceeded by $1m, nothing to scoff at as I'm sure the proverbial fan would have been involved if it didn't.
Extremely well informed post by
@dgoynich, 78 likes tells me there's more than a few people sitting in the shadows here, I'm impressed and congratulate his commitment to his investment here, I believe it's substantial and he is backing it up with a realistic approach to the numbers, well done!
Chart wise hitting .25 today stifled any structure I had adapted to it, not to end it, but has created uncertainty until something more obvious plays out, however it has double bottomed while not a concept I focus on, has real potential for reversal.
Something to keep in mind also regarding big volume entering on days like today, this isn't something to be afraid of regardless of the uncertainty, in my mind this is welcomed with open arms as a certain level of commitment takes place when volume enters, cards are revealed, the battle ensues, this is where reversals can and often do happen, look back at previous high volume bars that spike down, similarly to those that spike up they rarely hold and do often reverse.
I am still holding here and have accepted a certain amount of confirmation bias is sometimes difficult to avoid when your personally invested however if I was to look at this at .25 today, and knowing the fundamentals, I would have bought in with a tight stop under support knowing it is a hell of a lot closer to bottoming than topping out, GLTAH DYOR
Cheers HF
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