After the frenzy last week PIO is struggling to find it's new base, if it stops here and accumulates until more news then thats great but don't discount the possibility that it could continue down. The 2.4c gap is significant, the current SP has dropped below the 20 day SMA, the next line on the chart is the 50 day SMA and what price is that sitting at..2.4c.
I like PIO as a company, they have varied deposits and tenements and have the potential to be a big company if they strike gold at Acra, Mavis Lake comes up with the goods or Nickel comes back into fashion.
Before I get slammed I was a holder, PIO was my 5th trade in the stock market at 1.5c, sold half at 3.7 and the other at 7.1 so I made some good money along with a number of others and will get back in once the SP has found its support and proven that support because I believe in the company.
