Ascent Solar Technologies - The 50-day Descent of Ascent   Tuesday, June 10, 2008
By Jay Pasch
 Now off 39% from its May highs, Ascent Solar Technologies (ASTI) continues its descent, marking a 50-day low as the stock closed down 71 cents yesterday, or -6.1%, to close at $10.88. What does history show us about Ascent's 50-day low? Q: Over the course of its history, How has ASTI performed after trading at a new 50-day low? A: According to the 7 previous occurrences of this event, ASTI has shown a strong bullish edge that peaks 28 trading days after the event. ASTI rallies in 71% of the cases (5 of 7) by an average of 31.0% relative to the close on the event date. The 2 declines is -5.5%. The overall return of the 7 cases is 20.6%, projecting a target price of $13.12 by Friday, 18 July 2008. Mr. Jay Pasch is a private futures and equities trader based in Minnesota. He may hold positions in the instruments mentioned in his trading ideas.
Related Ideas:
| | Let variable values:
@ = GII.ASTI.NASDAQ
theEvent = IF
low of @ crosses below 50 day lowest of low of @ 1 value ago
THEN 1
ENDIF
Date Day t+27 t+28 t+29 t+30 t+31
08/22/2006 Tue -16.1 -7.1 -10.4 -13.6 -8.9
09/13/2006 Wed 35.1 35.5 34.4 34.4 29.7
01/09/2007 Tue 26.5 26.5 36.7 36.7 68.2
05/29/2007 Tue 31.0 30.9 26.5 30.3 28.8
08/06/2007 Mon 39.4 40.7 39.4 86.2 98.3
01/22/2008 Tue 1.6 -4.0 -4.6 1.8 -2.7
03/10/2008 Mon 22.7 21.6 23.0 35.4 30.3
06/09/2008 Mon NaN NaN NaN NaN NaN
Avg 20.0 20.6 20.7 30.2 34.8
AvgPos 26.1 31.0 32.0 37.5 51.1
AvgNeg -16.1 -5.5 -7.5 -13.6 -5.8
PctPos 85.7 71.4 71.4 85.7 71.4
PctNeg 14.3 28.6 28.6 14.3 28.6
Maximum 39.4 40.7 39.4 86.2 98.3
Minimum -16.1 -7.1 -10.4 -13.6 -8.9
StdDev 20.1 18.9 20.1 31.5 37.7
ZStat 1.0 1.1 1.0 1.0 0.9
Variance 402.8 356.6 405.6 991.4 1423.3
8 Occurrences | |
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