Yesterday's spike was a clear blowout ... but what it has done is clear the decks, and bring the stock to many people's attention.
I held what I originally bought, and now have added some more to lower my average to 8 cents .. happy with that. Just looking at the chart, if we remove yesterday's spike, the chart still looks fantastic, with a rounded bottom, a handle formed, and a clear up-trend in place.
Regardless of the blow off yesterday it looks technically good IMO. It has very few shares on issue, and has some very good tenements. I agree with John, it was cheap at 6 cents, and still looks cheap at 7 to 8 cents.
The lack of cash might be an issue to some, but if the company raises it carefully, then it can even turn out a plus. We know AIV can move in a heartbeat, so it will be interesting to see what management can do with it!
AIV Price at posting:
7.3¢ Sentiment: LT Buy Disclosure: Held
