TIBX At Important Level of Support
Disclosure: Short May 20 puts
TIBX has looked terrible technically recently, below all moving averages, death cross, high volume selloffs and RSI and A/D firmly dropping, however, 20 is a fairly big level of support for the Company and the CEO (who is also the biggest shareholder) has publicly stated that "the company will put its money where its mouth is and buy back stock at this level", I think as a longer term hold you might be able to get this in the 19s on a continued market selloff but I expect this stock to snap back above the 20 support level at least in the next month
TIBX has looked terrible technically recently, below all moving averages, death cross, high volume selloffs and RSI and A/D firmly dropping, however, 20 is a fairly big level of support for the Company and the CEO (who is also the biggest shareholder) has publicly stated that "the company will put its money where its mouth is and buy back stock at this level", I think as a longer term hold you might be able to get this in the 19s on a continued market selloff but I expect this stock to snap back above the 20 support level at least in the next month
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