Again, after two straight days with a range of 3.9-4.3 and a close @ 4.23 (directly 1 cent below prvious 52W High), we've finally had a last 10 minute bid (a mere 1.3k) to press the price up to a close of 4.27.
Now, I'm not saying it will never close below 4.24 again, however, this is a definite signal to many experienced investors/traders such as the Grumans that a new support level has just been formed... After watching the bids/asks for what feels like an eternity on this, I'm fairly positive the asks will continue to uphold the 4.24 level and not drop below (unless a market order decides to waltz in take out some low bids). Bids will recognize 4.24 is thus a new support low and purchase on a scale up as all smart traders will do. Bidders may feel hardpressed to find asks and will be more willing to bid up instead of offers coming down.
Excited for what the next month has in store.
Just my perspective, with an Avg cost per share of 3.11... Profit takers appear to be out and no longer willing to risk missing the next fast run.