Quote:
Originally Posted by tarka
Just a thought, but the share price might be people who were short on the phorm stock covering their positions. There are usually retracements in a share price against the trend.
This doesn't look like a typical retracement though, although interestingly it happened to close back above a 50 day moving average the day before. There are other indicators showing that the stock is/was oversold and buy signals may have been triggered (certainley with a stochastics crossover). People who trade stocks using technical analysis of price action look for these types of conditions and if there is enough "technical evidence" that a trend is going to reverse they won't always worry about the fundementals of the companys they are trading shares in.
(chart attached for reference)
Regards...
T
Edit: Also notice that the volume is still fairly low.
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Does that mean it's still a heap of junk?
Perhaps if you don't mind tarka, someone with an account could post this over on iii for brettypoos comment?