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We should see some resistance here since the warrants were priced at .52c. If we do clear .52 the next hurdle would be .71c. When the stock was pounded on big volume down to 48c then PO announced at.36c because US broker knew where the pricing would be. They shorted the stock,5.5million shares then covered it back under 36c. All this smacked of insider information. Now the stock has a big jump on huge volume,I dare to say some kind of news has leaked out and they are jumping back in. I was told the first quarter would see meaningful news and big price appreciation so far so good.
It appears the shorts have made a nice profit and now on the buy side. The first hurdle would be the 52 where the warrants were priced. I would expect an overhang at that price but once through run higher could be quick.
First hurdle is the 50 day MA which is .37,next is the 200 day which .66. This would be a breakout and bring in a lot of buyers especially if good news were to follow. This the is the best its looked since the PO.
I have been quite critical of management for a while, their lack of meeting goals,false promises and either incompetence or stupidity on the financing. Throughout this year this board has been for the most part upbeat and positive about the management and the potential for the company. The share price has been decimated and the negative reaction has jumped and the mood has darkened. In Warren Buffet's words "buy when everyone is fearful" I think we have reached that stage.
It was all orchestrated to push it down under 50c so they could apply the maximum 25% discount. That is why I am so pissed off and contacted IIROC and OSC. They did this with mangement approval. When I say "they" I mean the lead underwriter in the US