What else can be said? The equity continues to flounder as day after day goes by. There is no real catalyst in sight, and from a technical standpoint nothing to get too excited about. The street appreciated the debt offering of $1.5 billion, but beyond that, the equity is simply trudging along.
What we need is for this equity to break through $3.20 and hold that level as a new foundation for moving ahead. The longer we stay down here at these levels the harder it will be to move up to the $3.50 level and beyond.
Support and Resistance
Exponential Moving Averages