Down 90%, Will This Stock’s Fortunes Improve Soon?
Anybody know what stock is in the chart below?
Needless to say, down ~90% from its all-time high a few years ago, things haven’t been pretty.
In fact, one could have tried to pick this name up on intermediate-term support (dotted red lines) at various points on the descent, only to realize in retrospect, that this was a widow-making falling knife.
However, look at the significant confluence of new support (blue lines) now at hand.
Is the bleeding finally over?
Could all that support finally produce a material, more sustained bounce?
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