patience is key here IMO. Selling and pullbacks are all part of the journey, I think todays trading is showing a great pattern moving forward. Ill do a chart later in the afternoon, too early to call a trend yet. Some selling between announcements is expected, but the longer term trend will be upwards as this has massive upside IMO. The most difficult thing for most investors is to hold during volatile periods of selling, and with the recent rerate, selling has to be expected. The reason for selling is whats important, IMO its not due to something wrong with the company or its prospects, but simply that the SP has reached a point where some are happy with exiting, and cant blame them. You and I may be sitting here at 20-50c + in the future doing the same thing. All in all, the movement we see during a day will be tiny little wiggles in a long term uptrend when looking back in a few months IMO. All that differs is that looking back is easy as it is all decided, looking forward requires some faith and stubbornness =)
Also, 20c? really? today? Maybe Im boring but I am conservative and happy with some flat trading heading up to the next announcement. Price consolidation is important, and support levels can be established as news is digested by the market. Broader market is in the red today, which has nothing to do with this stock, but does affect sentiment of some investors.
I would conservatively call 9-10c at close on friday or monday, without an announcement. With an announcement, its anyones guess! Ill chart up the daily trend towards the end of the afternoon and we can see where it points (caveat is that its completely speculative with intraday charts with the recent price, but so far the buy signal I pointed out earlier was the reversal and the end of the morning sell off, so lets see how the afternoon plays out. We also have to know that day traders are on this now, so a little bit of swing as we move onwards and upwards, but I still think the long hold will be more profitable. Either way, I hope everyones having a ball.
