Apparently Yahoo, seeing IDX nearing a yearly high, suffered a heart attack and died. Even Raging Bull seems only intermittently conscious, which is why I can't raise a pulse to see what the IDX closing price was today.
Given that there were about one million shares traded, this seems more like a preannouncement runup than just a generalized inflow of money into one of the stocks in this sector. The announcement could be an upgrade by a brokerage house, or it could be IDX PR. Probably, it is the latter.
We can only wish the stock is treated like Mytec was, where a runup from $1 to $3 preannouncement was continued with a runup to $7 before the excitement subsided. Under either scenario, I'd be surprised if there were an immediate sell off on whatever news is coming. We may, though, find ourselves stuck at the $12-13 resistance level, and an improved trading range of $10.50 to $12.50. Keep in mind I'm not a technician, just a happier camper. |
