One of the new junkcaps which has survived and now is getting past its debt crisis.
They just raised money to further retire high yield debt.
The stock has prefectly bounced off the 200EMA which also coincides with the golden ratio of fibo..
Long at current price with stoploss below 7.20.. (200WEMA)
If and when the stock can take out 11.40 plenty of good things could start to happen here.
Anti-thesis..The freefloat is super high..competiton in the sector is much higher than earlier and debt is still a problem for the co. (Unlike other junkcaps this one isnt cheap)
They just raised money to further retire high yield debt.
The stock has prefectly bounced off the 200EMA which also coincides with the golden ratio of fibo..
Long at current price with stoploss below 7.20.. (200WEMA)
If and when the stock can take out 11.40 plenty of good things could start to happen here.
Anti-thesis..The freefloat is super high..competiton in the sector is much higher than earlier and debt is still a problem for the co. (Unlike other junkcaps this one isnt cheap)