Ok its time to put this all in perspective. These are the facts,
1) 34cents held for almost an hour of trading today after dropping from 36 to 33 in the blink of an eye
2) We closed above the intraday low with a volume proportional to the rest of the day (4.5 million after 3.14pm, 25 million for the whole day).
3) Anyone who brought in at high levels will currently be at a loss. Plenty of day traders etc will have taken a loss for tax purposes and since moved on to other stocks.
4) Things don't happen overnight!
Tomorrow's open will be extremely interesting. We have a potential reversal (morning star) candle that might be confirmed tomorrow morning. This could go back into the 4s as quickly as it dropped to the 3s in my opinion. Alot of traders will have eyes glued to a reversal pattern.
ESI Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
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