Replies to post #65520 on Innovation Pharmaceuticals Inc (IPIX)

[I Need Help]

smitter, your observations are also key to what is happening and likely to happen:

1) Increased probability for good news in the near term. CTIX has many irons in the fire. From recent company pronouncements, there should be updates in the tunnel. The R & R show should also bring interest (Sept. 8 thru 10th). From prior experience with CTIX, there is a possibility for a run up to the conference, as management has used this opportunity to communicate positive initiatives. From your post:

With Sept quickly approaching i am expecting more concrete news in the next 3-4 weeks, and some bigger money is quietly and strategically beating the herd here and accumulating CTIX..

2) As price goes higher on higher volume, more shares are committed at higher prices; which in itself reinforces higher support levels. It also underscores optimism. When new shares are purchased, the buyer is anticipating higher prices in the future. This is especially true when buyers are willing to pay frequently at the ask, sometimes above the current ask--which has been the case with CTIX lately. I find it especially telling whenever I see a transaction above the current Ask, even when the transaction is before or after normal session (in the case of CTIX). From your post:

1 Last thing I would like to add. Most of the Vol on Friday occurred above the $1.77 mark.. That is good because new buyers are taking shares that were mostly bought in the $1.60's or lower from older shareholders and now forming a new higher base.

I'm optimistic CTIX will break $2 in the next few weeks; much higher on really good news.