The recent high volume selling has shifted the nature of the chart from a symmetrical pennant (see my earlier post), to what appears to be a downward channel in the primary trend. This shift was sparked by the ACB block scale (the stock was close a reversal to the upside until this news broke). It is very difficult to say where the bottom will be found. The company has strong potential, but the stock is at its most vulnerable point right now.
Comment:
Not much to add to this beyond the obvious. TGOD is now at .99 cents a share and has been a falling knife for the last week after the management went public financing issues they are having. Stock is currently at all time lows, balls deep into a descending channel.