EARTH : Another new high still possible.
August 3, 2011 Leave a comment
On July 25 we said of EARTH when it was 494…. “We think EARTH has a better than 50% chance of rallying past the recent post IPO high at 5.20, with 5.50 our target for an aggressive volume supported breakout in to blue skies.”
It got to 5.45 the next day and it may have another go at a new high rather soon. This time 5.65-5.70 looks possible.
However if US markets do not rebound overnight it may test 5 again, even a tad below, but given the SET rally is not over yet and the market maker here has unfinished business, the odds are still good for a new all time high since IPO.