VWPT SBYN & 1last bit on ICGE/SFE/EMRG
congrats on SBYN i took my gain yesterday in keeping with my "daily bread" philosophy. Finding targets as stocks come back into a gap zone is always hard. In one sense it is blue sky, but in another sense, profittakers could be anywhere. my chartwork focused on 5.69 as the next hurdle which served as a support point on 4/11/02 just before the gap down in April.
re. VWPT, the biggest volume days going back to November 11 were all "white soldiers" with .07, .07, .07, and today .06 share gains. I assume that big money buys chunks, and then in the absence of buying pressure, the share price dribbles lower. The selling on larger volume on 12/30 i think was a bit of institutional capitulation, a reverse window dressing to get the ticker off the books before year end.
stock exhibited a bullish engulf on New Year's eve after 2 months of this price leakage, then opened at the high for the previous day on Jan 2.
Tonight another bullish engulf. There was supply at .82, after a few hundred thousand shares of buying, so I believe the path of least resistance is up now, and I am comfortable holding to see if it chews through. have no idea what the upside potential is, just that it feels strong.
good luck
m
from the news release...zounds!!!
ICGE up 37% including AH
SFE up 11% including after hrs
EMRG up 280% |
