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Posted On: 04/02/2020 1:14:47 PM
Post# of 149733
“No, this is neither "profit taking," not "rebalancing."
False. There is no doubt profit taking at this point. One week ago the stock was in the .80-90 range and earlier today it reached 3.39. Many of the short term traders who got in earlier this week, and some long term holders, took profits in the $3 range. They see that further COVID19 catalysts, the indication that drove the price to $3+, may be a few weeks off and are moving on.
Just like the run to $1.65 and then the pullback to the $1 range earlier this year.
There is nothing wrong with profit taking and consolidation.
False. There is no doubt profit taking at this point. One week ago the stock was in the .80-90 range and earlier today it reached 3.39. Many of the short term traders who got in earlier this week, and some long term holders, took profits in the $3 range. They see that further COVID19 catalysts, the indication that drove the price to $3+, may be a few weeks off and are moving on.
Just like the run to $1.65 and then the pullback to the $1 range earlier this year.
There is nothing wrong with profit taking and consolidation.
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