Late last year I made some good money on SAY. I happened to have got out the day (one day!) before the scandal broke. A friend was not so lucky and lost thousands in his overnight position.
Lately this stock has been on the rise again.
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It is a well known company with a lot of employees and a lot of contracts. I haven't been keeping up with how many of those contracts they lost after the scandal, has anyone else been looking at this?
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I don't dig into fundamentals too much but it appears the street was virtually pricing in bankruptcy after the scandal. The price action as of late seems to be taking bankruptcy off the table. I'd possibly look for a pullback to the 20 SMA with an oversold stochastic that begins to turn up. Then target the gap fills at 4.40 and 5.80 the perhaps the 200 SMA. I think it looks good I'd just want a bit more of a pullback. If it fails to hold the 20 SMA and makes a lower low under 2.50 which should also coincide with losing the 20 SMA then it probably wouldn't be a bad area to stop out. Just my 2 cents.