Good morning traders,
We have another stock today to put on the radar this AM. CDY.
You can see this industrial metals and minerals stock has been in a down trend for over a year. The looming threat of being De-listed coupled with the steadily disappearing stock value is enough to send investors racing to the door.
Should we turn out the lights yet?
Several interesting discoveries as of late suggest there may be an opportunity to capitalize.
(1) The downward price action has broken out of its descending wedge pattern and is currently trading above the 50-day moving average for the first time in over a year.
(2) The stock has recently traded in multiples of its daily trading average.
(3) Robert Kopple (an owner of greater than 10%) has been on a buying frenzy. Recently reported by the SEC were almost a half million shares purchased from AUG 12-14.
(4) A press release was put out yesterday stating NYSE-MKT Accepts Cardero's Plan of Compliance.
This is exactly the type of setup we look to profit from. Currently trading for less than $.13/share it would not take much to earn a fantastic return in a short amount of time.
Put this one on your watch list for the next few sessions and formulate your trading plan before you buy.
Don't give in to gambling,
No comments:
Post a Comment