Hard to say how market reacts today. The initial move is more about deception & short-term trading.
Obviously much of the poor performance is already priced in. But was it enough?
The $5 low was mostly a technical level being approx. 76% fib retracement of the entire company's growth; and that is a reasonable starting point in times of trouble.
Looking at financials, fair price imo is probably in $3-$5 zone depending on how harsh you look at things (and don't shoot me please!). So 76% fib wasn't actually doing a bad job (magic of technical).
I'd say somewhere in the middle ($4 area) is probably a good price, if one is trusting future recovery and growth.
But, in short term, market often surprises people by moving in the opposite direction.
See what happens. Good luck everyone.
edit: disclosure (not holding), sentiment: (none)
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
1 | 10000 | $5.70 |
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Price($) | Vol. | No. |
---|---|---|
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1 | 10000 | 5.700 |
5 | 15820 | 5.690 |
6 | 11574 | 5.680 |
4 | 30527 | 5.670 |
2 | 6426 | 5.660 |
Price($) | Vol. | No. |
---|---|---|
5.720 | 1500 | 1 |
5.740 | 8252 | 2 |
5.750 | 14687 | 4 |
5.760 | 18326 | 2 |
5.770 | 15307 | 3 |
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