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Sunday, May 16, 2010 10:04:15 AM
Some, think that NEWS is necessary to propel a stock from an apparent large drop to an extreme lofty level, in a very short period of time.
I disagree.
Case-in-point: AGEN
http://stockcharts.com/h-sc/ui?s=AGEN&p=D&yr=0&mn=6&dy=0&id=p66782251686
I use AGEN as an example, because it's pattern is so similar to CCTC. AGEN, had a large IMPULSE move up to $1.20 from 0.60c. It then consolidated those gains over the next 13-weeks, in the pattern of a "Bullish Flag Formation". Three lower lows were made.
0.74c, 0.71c, and 0.70c, in an "A, B, C" corrective Wave, that formed Wave(1) 0.60c to $1.20, and Wave(2), 0.71c, 0.85c and 0.70c
From the Wave(2) low of 0.70c on April 1st, it then surged to $1.72, with NO NEWS at all!!!
CCTC can make a move to my Targets of 0.75c and $1.15 without any NEWS, IMO.
Take my challenge, to find the NEWS that caused AGEN to suge like it did. I give you three Web-sites to research from below. GL
http://finviz.com/quote.ashx?t=AGEN&ty=c&ta=1&p=d&b=1
http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=agen
http://finance.yahoo.com/q?s=agen
http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p25660553168
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