Ah, the stock that so many hopes are pinned upon. ETrade recently announced a reverse stock split (10 to 1) that is to take place, if approved, sometime in the future. I generally tend to divest any stocks that announce reverse stock splits, just because it allows short sellers much more room for profits. In my personal experience, all my stock holdings that announced a reverse stock split are no more (e.g. Vertical net (VERT), Nortel Networks (NT), etc.).
But the chart for ETrade looks interesting. Indicators are showing a positive bias at the moment (in long term charts) The stock bears watching closely. It is in a triangle formation. A break to either side can be strong and big (up or down). Short term charts don't seem to be very bullish. But the weekly charts are signaling a bullish bias to the stock with a lot of buying.
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