Socialwise SCLW, is entering a new phase. Returning to its old glory again perhaps?
Lets take a look at the chart:Red are sell days, green buy days (more buying than selling)
If the volume was not evidence enough that we are out of the woods, the price should be. From April 20th when we had a .26 Bid, we are up nearly 300%.
Thats nearly 300% in 18 sessions! Average Volume prior to this time was just over 30,000. Since then its over 100,000 shares daily. If your not aware a 20% increase in volume will generally garner a lot of interest. But 300% increase in daily volume? That will get people talking again (and has as evidenced by the share price).
Just in fundamentals alone, this stock is going to raise eyebrows. Although we may not look at fundamentals, but rather the company, many other investors do keep an eye on the charts, bid support, daily moving average , etc. What they see is a strong upward trend developing.
I also want you to notice the bid support that we have had. I am seeing a lot more "retail" bid support from the likes of Etrade and UBSS. UBS is what Charles Schwab and I believe Ameritrade use.
I think we have institutional buying that has been using LAFC, and maybe even Knight (NITE), telling me that some investors are jumping over to grab some shares that they deem cheap again. This is a very good sign. If this type of bid support continues, I think we close next week above $1 after the news hits. Not much in the way of short sellers, and if we can keep them away as we did the first time till we flirted with $2, this could again happen quickly. This time I dont see it sputtering above $2.50 however. Despite the fact that many of us still are below our average (those of you who havent averaged down) we are still looking great again.
Let me know if you have any questions