Will early 20s hold?Yes from a weekly perspective, a big decline...

Will early 20s hold?

Yes from a weekly perspective, a big decline from 29 to 23.5. Volume is still low to moderate, between 2/3m shares, so not much to make a big move either direction.

So what is happening? Its now playing the CR move. It had a big rise to 59. Then a drop. Then a CR at 25. Many expected it to come below 25, which it did. Reading thru the threads, many also expecting it to get to 10c. Well, its possible, we should not rule out anything. But at this stage the probability of that happening is not very high. No one can predict what's going to happen. Michael Burry made a lot of money and name in 2008 crisis. He thought he could repeat it. When SP 500 was around 4000 he bet all his money, billions, and went short. Today market have risen around 40/50% from there. He accepted his mistake when it rose another 10%. and exited. But by that time, damage had been done, to his bank balance, and reputation. So its not easy. We can get lucky though. So I feel we are seeing a healthy consolidation in early 20s. If we can hold here. just based on technicals we could see a move. Much before drilling results. That's my play, I could be wrong, so please dyor.

Personally I had written on Tuesday that I had bought at 25 and 7.5 and had written I will hold as long as early 20s looks like holding. I added some more heads at 22.5 and small oppies lower. My heads are at 24 now, oppies 7.3. So am down on both as of today's price, but lets see.

So what could happen next week? Currently there is an intent to hold early 20s. But there is also an intent to sell it down. Who will blink first? I don't know. I am hoping buyers see the value here and first step would be to get to 30s. Will that happen? Lets hope so. Enjoy your weekend and all the best.