This is purely a technical play. Support was established twice - first on the 24th, and also on the 31st. Activity has been dry for some time, with volatility decreased significantly relative to earlier this year. Accumulation occurred at that support on those two days, as you can see with the bollinger bands, with both days having measurably increased volume. Also, and this is just something to take note of, it is at the 78% retracement line. No surprise earnings or high probability calamities seem to be over the hill in the near term. I can't see them doing an offering with the volume the way it is right now. I haven't fully researched the filings, but from what I remember, they issued or renegotiated a convertible note back in April. Due own due diligence if you have the time, but the near term risks seem low right now for a swing trade. Stop should be 10% of position
Comment:
Selling 1/2, 3.70