Where is PHES heading after the rally two days ago? Is it now going for a dive? PHES is now at the final stage with its negotiations with Avida Land for a possible joint venture. Is this something that still have to be factored in the price per share or its already factored in? We see a bearish candlestick yesterday and a red candlestick today confirming the bearish sentiment. How will the joint venture affect the bearishness of this stock? Will it be more bullish and reverse the sentiment? Since the deal is not yet closed, will there be a play for some group to pull this down before pushing it up again?
Another factor that is playing around on this stock is the fact that a lot of traders have been ipit for an extended period of time so I think they will grab every opportunity to get even with this stock. Thus, the price can’t go up fast (if it will). For me I am bearish at this stage.