Yellow Media Inc (TSE:YLO) (PINK:YLMPF) stock price took another dive on Monday getting even closer to its all time lows. This doesn’t yet look very promising for either bears or bulls though.
YLO stock price lost another 9.5% under a trading volume of just over 4 million, roughly at its average value. The interesting thing is that price is now just half a cent above the all time low.
Strangely enough the stock got listed among the most active ones on the exchange, which could attract additional sellers over the coming session.
At the current share price every tick means a comparatively large percent change. The stock has also shown it can bounce pretty well, which can repeat if it tanks into new depths. Bulls might count on a possibility of a bounce, because in such cases shorters have no reference points and its easier for short squeezes to get out of hand.
The company had no important news lately so it should all come down to technical evaluation of the situation. Bears will likely challenge the last support during Tuesday’s session, and bulls will wait for them to fail because, again, even a small bounce would mean a lot in percent gains at the current price levels.
