SMVI - Once Resistance Now Support

Yesterday's authorized share raise still had investors on their heels today as the stock fell to close at $.0003 a share. You can see what dilution, or the potential of dilution can do to a stock. That is one of the reasons this market can be so difficult to trade. SMVI, resides in the very hot Social media sector, and has a June 17th launch date coming. The share structure was an attractive 2 billion authorized and the stock was trending higher, before the authorized share raise brought the stock down yesterday and today. Dilution and rallies are like oil and vinegar.... although what we saw late yesterday and today could just be people selling and moving on. I think if the company can lay off selling stock SMVI still has a great chance at posting gains going forward.

What we will look for is a major drop in the accumulation, today we didn't see that, which leads me to believe this isn't company selling.... at least not yet. When you raise your authorized share by 1 billion, 50% of the current authorized, you have to think they have something planned for those shares. If the plan is to sell stock into the market then SMVI may have already seen its highs at $.0007. If the plan is to exchange those shares for interests in other Social Media sites or other to add value, then this stock could really impress going forward.

Right now support is $.0002, which was a month and a half resistance level and 50 day moving average, while resistance is back at $.0006. Let's see how this plays out going forward.