possibly front running this idea? Interested in thoughts but looks set to run after the final test to around $4.10 on support. AHT gets listed on Russell 3000 25th June. Could prove the catalyst for run to $8 / $9? Bullish long term on AHT.
ok, so didn't bounce of support, so didn't commit. Hope none of you did either as Stock capitulated.
Will continue to monitor. Latest:
Ashford announced a 1-for-10 reverse stock split, meaning investors will get one share for every 10 they own.
The move is an attempt by management to increase the stock price.
The market usually does not respond favorable to a reverse stock split, and this instance proved to be no exception.
so could be curtains for the business. Or potentially, fantastic buying opportunity. proceed with caution and wait for confirmation.
JorgeMoney
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looks like BU was sooner than I anticipated? Whether this is a bullish sign remains to be seen. If my Spring was correct, this is higher than classic Wyckoff spring, and gives another bullish signal. Keeping a close eye on this. Could break out over the coming weeks. if it breaks back down to top of trading range (middle yellow line on the chart) I will look for strong confirmation to test this. As always, these are just ideas, not financial advice :) - so welcome comments and other suggestions from the community.
sauvageholdings
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Love this.
SoloDiver80
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Does getting added to the Russell 3000 normally cause a price increase?
josephcwilk
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@SoloDiver80, in some cases yes, because index funds have to add this stock to their line up.
JorgeMoney
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@SoloDiver80, perhaps not in a huge way. But it gives more exposure to the stock. Starts to get included in funds etc. Price moving up off resistance. At a higher price than I thought. Watch it play out for a little longer. It may still head down to the yellow support line. If not, means even more bullish IMO
Will continue to monitor. Latest:
Ashford announced a 1-for-10 reverse stock split, meaning investors will get one share for every 10 they own.
The move is an attempt by management to increase the stock price.
The market usually does not respond favorable to a reverse stock split, and this instance proved to be no exception.
so could be curtains for the business. Or potentially, fantastic buying opportunity. proceed with caution and wait for confirmation.