The most recent lot I bought was at 47c and by end of the day it ended at 49c. Looking at the 6 months chart, the last bottom before this one was 64c then it bounced 33% to get to 85c before going down again. But the sell-off was so heavy this time that we will need 73% pop from the most recent bottom of 49c just to get back to 85c! This show show severe the recent selling was. Assuming that 49c will be the near term bottom for the next couple months, a bounce of 33% will be really nothing. Those on the long side would hope for at least 50% up. The bullish ones would hope for 100% upside within the next 6 months when a lot of new news will come out.
I feel that 30% up from 49c in 6 months is pretty much the least that we can expect. 50% is a nice wish while 100% up is ideal. One has to be in it to win. I am going to set a stop-loss order soon when AC8 reaches my average cost price around 61c and just watch how this stock moves during the next 6 months. It will be a bumpy ride and hopefully main up for the next 6 weeks to confirm that 49c was a real near term bottom. It it gets down to 44c I will just buy some more
Happy new year everyone!
