Posted On: 03/31/2014 12:43:09 AM
Post# of 2561
AGDY Daily Chart ~ No News, No Good
As with all penny stocks, waiting day after day for rumored news, when it doesn't come out on rumored time frames, expect the small and short term holders to sell at any bid. That was the case on Thursday when 94.4k decided to sell, with the first 9,000 shares taking the stock from .20 to .055. Friday saw 36.2k shares selling, and that was the tale of the tape for two days, 130k shares. I'll post a weekly chart next which shows 203k shares transacted for the entire week. Simply a case of delayed news, not many hitting the ask, and small sellers hitting the bids. AGDY is almost back to the volume days of old when there were sometimes entire weeks with less than 50k when the stock price was in the .02s and .03s. Obviously, the up channel was broken with Friday's close. The channeling in which AGDY traded for weeks, between the .16s and .25s is still intact as long as the stock stays above the .16 level. Until news comes out, expect the meandering and slight negativity to continue. When the anticipated news hits, I believe we'll see .40s and .50s very quickly. I also added more this week as did two friends. GLTA
As with all penny stocks, waiting day after day for rumored news, when it doesn't come out on rumored time frames, expect the small and short term holders to sell at any bid. That was the case on Thursday when 94.4k decided to sell, with the first 9,000 shares taking the stock from .20 to .055. Friday saw 36.2k shares selling, and that was the tale of the tape for two days, 130k shares. I'll post a weekly chart next which shows 203k shares transacted for the entire week. Simply a case of delayed news, not many hitting the ask, and small sellers hitting the bids. AGDY is almost back to the volume days of old when there were sometimes entire weeks with less than 50k when the stock price was in the .02s and .03s. Obviously, the up channel was broken with Friday's close. The channeling in which AGDY traded for weeks, between the .16s and .25s is still intact as long as the stock stays above the .16 level. Until news comes out, expect the meandering and slight negativity to continue. When the anticipated news hits, I believe we'll see .40s and .50s very quickly. I also added more this week as did two friends. GLTA
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