Re: International Business - IBVR
This has bottomed. The powerful recovery off the artificial intra day low, caused by a an afternoon margin call on a stock which wasn;t even being promoted - back to close 100% over the intra day low with strong volume, considering the float. I believe this will see some very strong buying this week. We already saw it walked up to 30 cents wednesday before NITE shook it down over the next 2-3 days to test recovery, and if they release news sometime this week this thing could fly.
Given the low float, I won;t even try to set a target price on this puppy as it will seem ridiculous to someone who doesn;t know HOW high a low float can move with some positive news, good charts and a little bit of momo. Just to compare, I;ve seena severely LARGE float stock (with 1000 times as many tradeable shares) move 500% with some news off a bottom. How high will this LOW floater go? It has the potential to shock us all, but time will tell.....
I believe that with some news and buying interest, this will be a serious multi day runner. Good luck.
Last edited by Chart_Analyzer; 03-01-2009 at 09:22 PM.
|