Wednesday, February 27, 2008

Divx still in down trend.

IPO of 2006 is not in favour of traders at all. 2 months after issue of shares the company is in downtrend up to now.

Divx (DIVX) is shutting down Stage6. This negative news has been dragging shares to new low. Shares were testing the most recent low formed on November 07 and this support has been broken. Recent daily volumes exceed average. Let's see where will be short term low. I expect bounce in near future as shares are traded close to strong support line.

Earnings call is scheduled on 11 March.


0 Responses to "Divx still in down trend."