In Retrospect : ISM, TUNA

ISM

The stock opened high and closed low on the first day of trading for last week. It reached to a high of 0.075 and a low of 0.065. The succeeding days were followed by a sell off with minimal volume. Based on the previous week’s volume a lot are still holding on to the stock even if the price moved back in the triangle. Probably, most have a low average price on this stock or may be a lot are still hopeful for this stock. Who knows what the reason is, but as of current there is still a high probably of this stock trying to go beyond 0.0675. But before doing that, the price may experience resistance along the way up, as those who have jittery hands might sell on the first sign of strength to stay liquid in the current volatile market. Recommendation: Hold. If price still goes below the 65 day moving average, sell. If the price is unable to go beyond 0.0675 and continues to consolidate within the week, sell. The momentum might fizzle out if it continues to consolidate.


TUNA

I never thought this stock could go below 1.92, but in this volatile situation, any thing is possible. Stock went as low as 1.88 and the MACD dived back and went below zero. So much for my expectation of momentum picking up when MACD crosses above zero line.