|Net Profit Margin||-1.73%|
|Shares Outstanding||100.80 Mil|
|Market Cap||3.3 Bil|
Stock went down by 15 percent. I was thinking the total volume of shares floating is 100 million. Today's volume is already 10 M. Heavy selling. Unless new buyers come in, this stock will go down.
1. Should have shorted at day opening at 8 percent down. But its hard to guess, if the 8 percent down was temporary and it will recover in the mid day or it is permanent with heavy volume like today.
But the ration total shares/ today volume is approximately equal to the percentage of price down. I mean only during heavy volume days or heavy buying days.
Stock hitting resistance at 27.5 already 15 % down. They can drop more too depending on how much speculative accumulation of stock happened before. Need to study these models further, that fall down from the top with heavy volume. Usually a signal for down trend to begin. Need to study the single day chart. Same thing happened to OPEN a few days back.
OPEN dropped to 87 on that big sell day from around 92. But one should not bet that the stock will go up for sure the next day. It usually does, but there are cases like HEES, where the stock kept dropping and dropping.