Bounce or Sell-off? #RGSE
This stock is really hard to gauge. Volume looks pretty week the last month or so.
Up side is since crossing the 200MA it has tested it 4 times (depending on how you look at it).
At a minimum it appears to want to stay above the 200MA.
The 20/50MA look pretty week though. Possibly a cross soon. If so it may Re-test the .08 mark at low.
If the current trend continues, I suspect .34 will be the new support (current resistance). It hit (or briefly passed) .34 on the 14th and 18th June, but quickly retracted. The company is actually going in a good direction with their Powerhouse Solar Shingle brand. If I were a betting man and it crosses the .34 this coming week, the stock is set for a full recovery. I think its revenue and sales will be up with states passing laws for more aesthetic/sustainable solar solutions.
NOT ADVICE: I'm in at .34 if it find support there.
Up side is since crossing the 200MA it has tested it 4 times (depending on how you look at it).
At a minimum it appears to want to stay above the 200MA.
The 20/50MA look pretty week though. Possibly a cross soon. If so it may Re-test the .08 mark at low.
If the current trend continues, I suspect .34 will be the new support (current resistance). It hit (or briefly passed) .34 on the 14th and 18th June, but quickly retracted. The company is actually going in a good direction with their Powerhouse Solar Shingle brand. If I were a betting man and it crosses the .34 this coming week, the stock is set for a full recovery. I think its revenue and sales will be up with states passing laws for more aesthetic/sustainable solar solutions.
NOT ADVICE: I'm in at .34 if it find support there.
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