And things are even worse over at USA Mobility (USMO), the small-cap cellular company. Just in case selling pagers in 2012 wasn't a big enough hint.
USMO had been stuck in a downtrned for the last year, bouncing in a relatively shallow channel. And then earnings happened. The firm's July 31 earnings call gapped shared down substantially, shoving them below trend line support. That accelerated the downtrend - and until this stock finds another swing low, there's no telling where shares will find their next support level.
In terms of buyers and sellers, the glut of buying pressure at support completely evaporated after USMO's earnings call. That trend level where folks started thinking "USMO looks cheap" suddenly became a ghost town - one that's likely to act as resistance going forward.If the post earnings drop wasn't enough to get you to sell shares, this chart should be.
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