Your scenario of an imminent contract announcement is very plausible, but probably nothing near the size of CREZ, a $50M+ contract spanning more than a year.
On the other hand, stocks do sometimes move on just technicals, particularly high ranked IBD stocks. SNFCA is one recent example of an IBD #1 ranked stock that nearly tripled on no news .... momentum traders can be a powerful force, especially in low float stocks.
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