if teflon wants to have a bearish opinion on the stock, then let him. i for one welcome any alternative views on the stocks i'm reading about. it's better than the usual 'this (50c) stock is going to be $6 at the end of the year' comment with no reason to back it up, that you read on this site.
however from a purely technical perspective, i'm not bearish at all. sure it made a lower high, but it looks to have made a higher low, so i wouldn't necessarily call it a downtrend.
to me it looks like it's made a classic 5 wave elliot impulsive move up and has just completed an a-b-c corrective move. and looks like it has found support at about the 50% fibonacci retracement? (sorry my software doesn't have fibs on it and i can't be bothered opening up another program which does which takes ages).
it's also oversold on the RSI and stochastics and the MACD looks set to cross up. today's candle does look like it could be the start of a new uptrend. we shall see. for the more aggressive trader, it looks like a good place to get in.
STB Price at posting:
$3.90 Sentiment: Buy Disclosure: Held
