China BAK Battery, Inc. (CBAK)

[Ecomike]

Earnings coming out on July 28th according to a news bite.

CBAK to a 20% dump early today, and rallied to close up .02, about 1.5% up. I was already long and added during the bounce. My add was up .08/share or plus 6%. CBAK as near as I can tell is now oversold. It has a low share float, current market cap around

CBAK made a new 52 week low today at $1.35, but closed up at $1.52 on double the daily average volume. About 8% of the 66 million shares outstanding are short, And it has sales of about $2 billion US/year, in state of the art Li-ion batteries. CBAK reports earnings July 28. CBAK has gaps at $4 and $2.30

According to Fidelity CBAK is selling for 1/2 of book value now!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


CBAK's last quarter had a 24% increase in revenue over the same quarter in the prior year

Details on CBAK here, as well an interesting chart, I think today's candle is called a bullish HAMMER!

I was late to the crash party this morning, when someone shorted the stock and pushed it down 20%, but I did add shares at $1.44 before it turned green to close up and green, up .02, after a 10:30 am sell off that sent it down .13 cents share to a new 52 week low of $1.37. Volume was twice the daily average today!