SIRC Fibonacci Trading predicts crazy potential
Solar Integrated Roofing Corporation provided preliminary guidance for 100m revenue in the next 12 months. Their strategy of acquiring similar businesses to generate in-organic growth would prove successful if they're able to deliver on this goal. Recent trading action with the correction is in part driven by the acquisition of Montrose Companies, Inc. and the share holder dilution to fund half of it. That 250k worth of stock that was issued, expectations traders likely had about that event, and investors who bought prior to the 6000% run up since November taking their profits each contributed to the 85% retracement. Fibonacci trading potential has high expectations for SIRC in the future and shows the short term floor may have been found. An alternative path is also possible with bottoming around 0.18 instead of 0.43. Current market cap is 86m.
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