Anyone who has been reading my commentary on SPKL knows I have been suggesting avoiding the stock for a couple of weeks. I felt as if the stock had gotten a bit ahead of the company, and it would be prudent to wait for a pullback.
So- here’s the big question- what’s a good entry level to continue to accumulate this stock? I had the opportunity to watch some of the action in the stock today, and was very impressed with a technical reverse when it pulled back to the $1.43 level.
Looking at the chart, it is no surprise. Here’s why:
Here’s a chart measuring the entire monster move from $.56 to $2. So, as you can see from the chart, the $1.43 level was a nearly perfect 38.2% fibonacci retracement. If you jumped on the stock at that level, you made a great move as it appears so far.
If this level holds, it seems as if that was the opportunity. If the $1.40 or so level gives way, the $1.12 range would be heaven sent for those looking to jump in.
In the current market environment, these pullbacks are tending to be a bit shallower and short lived, so $1.43 might turn out to be our best opportunity.
Maybe, maybe not. I know that’s not a definitive as some of you might want, but short term calls are tough.
Perhaps a partial position is the answer, keeping in mind there could be lower opportunities in the future.
Comments and questions are welcome.
I made money when it hit 2.02 and I,m back in at 1.46 I think I’ll leave this one alone and see where it goes what do you think
Editor: As I said in my BLOG- $1.45 is a reasonably low risk entry point technically, $1.10 to $1.20 would be heaven sent. I don’t know what’s going to happen, but investors sure love this company.
This stock has been dropping like a rock. I am hoping this can rise up soon. I have lost money on this stock already. Hoping it can go up to the $1.75 range and i am out of this stock.
Editor: It’s just mind boggling for me to get comments like this. I really hope you read my commentary. I told everyone to buy the stock at $.80, and then $.95. Here’s the mind boggling part- I TOLD EVERYONE TO SELL THE STOCK OR AT LEAST AVOID BUYING WHEN IT RAN UP TO $2!!!!!!!!! IF YOU DON’T READ, OR CHOOSE TO IGNORE MY ADVICE, I CAN’T HELP YOU!!!!!!!! IN MY LAST BLOG, I TOLD EVERYONE TO START THINKING ABOUT BUYING AT $1.40, HOPING IT DROPS BACK TO $1.10 TO $1.20!!- Read all the content on the web site- it’s all there. Now that you have paid too much for the stock, you can either hang in there for the long term and not worry about where it trades in the short term, or sell, take your loss, and buy back if it and when it gets down to a sensible entry level. It’s your choice.
Incredible!!!
Editor: Like a trained bird dog- it went right to the number and turned. Let’s hope that was the bottom.