Talking technicals, it is noticeable that the stock has been changing hands on heavy volume over the last 4 months at a flat bottom with very narrow trading range which is unusual for a stock with low liquidity. I hate flat chart bottoms that go on for prolonged periods on small or average volumes because it invariably leads to a further deep breakdown. The large "absorption" volume gives comfort that we are near an absolute bottom, but it will take some time for the pattern to work itself out. Nothing is certain about charting, I must add. -------- Just to add, a flat top on small volumes invariably leads to upside breakout , but a heavy volume at a flat top is a very nasty signal indicating distribution & a breakdown.
LBL Price at posting:
36.0¢ Sentiment: None Disclosure: Held
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