Official quotes show that EMBA has waded into deep bearish mires recently. The most serious bearish blows were received in the last two sessions.
On Monday and Tuesday EMBA fell down 10.53% and 22.06% respectively. Eventually EMBA stock hit a share price of $0.265. On both days volume was around 1.4 million shares which is slightly above the 3-month average.
The painful slump could not be stopped even by the series of press releases issued by the company. All of the publications were connected with the announced agreement between EMBA and Acer. However, the market didn't seem inspired by the corporate updates.
Thus, EMBA has headed towards to 200-MA but at this point it cannot be determined at what level the stock will start to consolidate. Moreover, a look at the chart shows that the MACD indicator has been adverse to the stock since the beginning of September and steel keeps being bearish.
Apparently, EMBA has speed up the correction process which followed the big surge in August. So, most likely in the next couple of days the market will seek an answer to the question whether a full correction will follow or EMBA will save some of the achieved appreciation.
This sound like a company south of the border.
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