Technical action says gap open tomorrow and news likely at the end of the week, thus there is room for a lot more upward movement of price before next consolidation...
CMOZ... closed at $1.25 on an amazing 6,063,600 shares and just to think that yesterday it did about 6.5 million shares... I don't know if I am seeing things but the technical action on this one has been excellent, almost to the book... yesterday there was strong turnover in the $0.80 range that allowed profit to be taken and new investors to position... the same thing happened today, the stock gapped in the morning to $1.46, pulled back and traded virtually all day between $1.25 and $1.30 giving anyone that wanted to sell part or all of their shares, this was obviously balanced by some very strong buying... I always wonder about a pattern like that, why would one sell when there is someone there ready to buy, that usually means the price is going up... interesting techical note: at around 4:00 to 4:30 the price drifted down to about $1.03 (this caused a fair number of nervous investors to sell) but suddenly buying came in and with heavy volume near the end of the day, closed at $1.25... I called the company and asked how negotiations were going, they didn't give any details but said that they were working on a couple and news would be released as soon as one was completed... |
