4Our,
This is technically a "surprise factor" breakout above a 52-week high with high volume confirmation. It's even better when the volume confirmation occurs in the first hour (first hour volume greater than average daily volume). We had that. The surprise factor was obviously the excellent earnings report.
This kind of action gets people's attention. It's kind of like the one guy standing in Times Square looking up at the tall buildings. A few folks walk by, notice him, look up, shrug and move one. But, if you're walking along and come upon 30 or 40 folks standing in a circle and looking up, you stop and look up too. Maybe you don't see what's going on, but you know something's up. Of course when you and others stop, that just brings more folks in. It's the fomo principle (fear of missing out).
Of course the thing is, CDMO is a very low volume stock. Look at FCEL for comparison. That works against us. But, locking up shares via II's and making the float small helps. Now, we just need to attract some of those momo chasing Robinhooder's away from Tesla! I joke. Won't happen on a big scale because our options action is so small. Still, a breakout like this normally (80%+ of the time) bodes well for the stock over the next 3-6 months. IBD's data.
And yes, I was there for the '99 runup. Bought a boatload at .25. Sold a smaller boatload at .75. Still had enough shares to wake up a couple of mil richer (on paper) when it topped $16. Didn't sell a share. Calmly held on and here we are. Have traded around some since. But, not enough. Ce la vie.
Good luck folks.
WH
BTW, been through Stone, Bymaster, Bonfiglio, King and whatever his name was. Very.....very impressed with Nick. New game.
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