Good morning mi amors!
Your Senorita is back and I am putting Atrinsic Inc. (Pink: ATRN) on my roachy HIGH ALERT list once again. This is a past winner here at the StockRoach that raked in gains close to 1,000% only a few months ago, and the hype is back!
What has gotten traders all antsy in the pantsy over this once, “How the mighty have fallen” stock? Facebook of course! It’s all about social media networking today, and Atrinsic inc. specializes in social media networking with a heavy focus on entertainment, along with affiliate programs… ATRN is all about the multimedia revenue streams.
What makes ATRN stand out today? Well according to the speculators Atrinsic could be a potential buyout target by the great and mighty Facebook (Nasdaq: FB) since ATRN is the king of the pinks when it comes to everything social media with heavy connections in the industry.
Well I don’t know about all of that but ATRN is definitely in the Pinkshit spotlight today and many are anticipating PR updates from the CEO Nathan Fong regarding a lot of investor questions such as, “Is this POS $1 yet?”, “When the hell are you launching Spyder?”, “Are the Facebook rumors true?”
With Facebook’s highly anticipated IPO launch today, if there’s a company that Zuckerberg even once passed on the street it could experience the, “Facebook touch” today. That’s like the Midas touch, only real haha.
So keep on the lookout for news or PRs from ATRN today.
I’ll get to the techs right after this reminder!
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Let’s pull up ATRN’s chart: http://stockcharts.com/h-sc/ui?s=ATRN&p=D&b=5&g=0&id=p72312705195
As you can see there’s a big ole bullish sweet sweet candystick on the daily and the volume is starting to creep in again. There’s also a very nice support level at .05 and also a tentative support level at .075. Resistances lies ahead at .095 and at the 50 DMA of .104.
I am anticipating a pullback close to the tentative support level in the low to mid .07 ranges, so keep your eyes peeled as well if you wanna come out and play. As always, there is no guarantee of a pullback to these levels but there’s always a few profit takers that allow for some prime cheaps especially when there is a morning gap up.
Senorita “TGIF” Roachita