Raser Tech Inc. (NYSE:RZ)
Q: I would expect a trend change for Raser Tech. because so many of the fundamentals of the Company have improved and current financing if coming down to complete more plant production that will quickly follow.
Also a grant for their H3 project is likely go get approved. You would serve your customers well to issue an alert as to all these possibilities. Naked short selling is likely partially to blame for the current trend.
A: Thanks for your email. We have RZ in a downtrend as of June 30 when it gapped down. That gap came right after it failed to get above those 50 and 200-day moving averages. Looking at past history, we are watching the $2.15 (10/28/08 low) and $2.18 (3/4/09 low) levels for possible levels of support. If it can hold those and start to reverse higher, then a trend change may be forthcoming. Any additional positive developments like those you mentioned would obviously assist in that effort.
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