Is Tt Time To Buy Penny Stock BK Technologies?
The selloff in BK Technologies may be over: the stock is oversold and at support. There's a good chance the shares will rebound. "Oversold" means BKTI is trading at an extreme level below what would be a typical trading range. These conditions will bring buyers into the market who may drive up the price. They will be expecting a reversion to the average, leading to a rally. Shares are also trading at support. The $3.25 level was resistance from September through December. When the shares rallied and went higher, a number of these investors came to regret their decision to sell. Many of them decided to buy their stock back if it dropped to $3.25. As you can see on the chart, this has caused support to form. In February, BTKI fell to $3.25. After finding support, a rally followed. It could happen again.