Over the past several months Bederra Corp has been releasing news about "buy backs" and "acquisitions." There seems to be a pattern of "fluff" news with a mini morning run, followed by 3 trading days of consolidation, and then bigger news for a larger run. With the last news on April 20th, this set of news was set to land on today April 26th if it followed the pattern.
If there is news it has not struck yet, but the April 20th released was optimistic especially restructuring their share structure with about 1/3rd the shares with the same market demand out there for them. It also stated:
"Currently, the company believes its price per share is extremely undervalued based on its new share structure and the massive upside potential for growth through continued acquisitions and Joint Ventures"
I agree. If you look at the PPO with Full STO indicator on the chart, you will see that they are touching at the bottom. A common indicator used for pinches, and finding the reversals or bottoms of a downtrend, this indicates that the price of the stock is undervalued and will rise from here. Other notes for optimism shows is that the stock is currently coming out of the oversold CCI ranges as well as is being accumulated by traders and holding it's position at current levels.
Back in Febuary it was rumored that BEDA was being allowed to be short sold to keep the price down and that it would no longer be allowed to and that the price target was .0028. After hitting .0028 within a week, it continued to come down to previous levels, and only then is when BEDA announced that it would be reacquiring its shares, which makes one wonder if that's why the price has been held down and is not able to climb with this buying volume to higher levels. My question for the last few days, is who would be selling off at .0012? when 13's and 14's have shot accross the board as low points for nearly a month. Huge buys have gone through at the .0012's which just don't make sense and that I is why I feel the stock is purposefully being held down.
BEDA often requires news to run, and with it's current position and past news, any update at the moment seems that it could set it off, as well as the re-acquisition of BEDA with it's own shares is over.
Something to keep in mind.=)
-DK_trader
Posts: 170 | From: Great Lakes, IL | Registered: Jan 2010
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This is their state filings, reducing the shares. They are keeping good on their promises it looks like.
Posts: 170 | From: Great Lakes, IL | Registered: Jan 2010
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