one23
...LIFELONG TRENDLINE STARTING IN 1992 AND CONNECTING IN 1999. WE'LL SEE WHAT HAPPENS FROM THE THE THIRD MAJOR TROUGH. SEE LINKED CHARTS FROM THE OTHER DAY.
ALSO SOME RAY SUPPORT, AND I THINK THAT BUFFETT OWNS IT IN THE MID- OR UPPER-$80s. MEDIUM LONG TODAY.
SMA AND MULTIPLE DRAWN LINE SUPPORTS
TOP CHART SHOWS LIFELONG TRENDLINE. BOTTOM IS ZOOMED VERSION. JUST A FEW PENNIES AWAY FROM TOUCHING TRENDLINE. FOUNDERS/MGMT OWN ROUGHLY 30%. SHORT INTEREST IS 57%! COMPANY IS IN PROCESS OF REFINANCING 2016 LTD. REFI COMPLETION, ALONG WITH UPTICK IN NAT GAS, COULD PRODUCE A GREAT OUTCOME FOR THE PATIENT. I AM LONG AT $1. WILL ADD MORE AT TRENDLINE AND HOLD.
Could be blamed on many non-technical factors, but the fibs marked in the chart offer the real reason. Two back-to-back coincidences? I don't think so. The Machine lives, especially among triple-leveraged ETFs...
Last time I checked, short interest was > 50% with substantial founder ownership