Monday, 7 March 2011

Stock buy: ATNI

I initiated a long position in ATNI today, after seeing the stock get clobbered in the last few days, and breach the 200- day moving average. Looking at past occurrences of this its shown a good tendency to bounce, so I've put my neck on the line and gone with a bounce, but ill be looking to bail if it does materialize within the next month. The stock has a short interest ratio to stock float ratio of 6.2% and given this isn't actively traded it can push this up if a bounce occurs.

Entry: 31.19
Stop :28
Target 37

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