Climb off the bottom is now well established with 80% gain from the recent 52 week low, over 30% gain this past week.
I will be watching for a possible retracement in the first days of next week. There are 4 fib supports to test and hold. 1.29, 1.23, 1.19, 1.15.
With 3.3M shares short, buyers could cause a squeeze if the trend stays in the upper channel.
RSI is really hot and suggests a consolidation is needed but there seems to be strong volume with plenty of buyers entering.
This stock was beaten down harder than the sector and remains well below average SP performance to its peers over the past 1 year.
Q3 and Q4 earnings are critical for the company, management needs to prove the business plan is profitable and that they can deliver to shareholders.
Solid upside potential in the run up to October earnings where the proof will be in the pudding.
The stock is still trading 80% below its SP one year ago.
I will be watching for a possible retracement in the first days of next week. There are 4 fib supports to test and hold. 1.29, 1.23, 1.19, 1.15.
With 3.3M shares short, buyers could cause a squeeze if the trend stays in the upper channel.
RSI is really hot and suggests a consolidation is needed but there seems to be strong volume with plenty of buyers entering.
This stock was beaten down harder than the sector and remains well below average SP performance to its peers over the past 1 year.
Q3 and Q4 earnings are critical for the company, management needs to prove the business plan is profitable and that they can deliver to shareholders.
Solid upside potential in the run up to October earnings where the proof will be in the pudding.
The stock is still trading 80% below its SP one year ago.