From our alert last week at $7.50 (NYSE:CIA) is currently zoning in on the $9 area resistance. Our stop is slightly under the $8.50 mark (worst case you’ll lock in a dollar per share profit). CIA is at its highest point since the previous test of $9 and with a higher consolidation pattern than previous attempts. We feel the next test of the $9 could bring in a new wave of buyers causing a breakout to 52 week highs.
Keep an eye on SMC Recordings Inc. (SMCE.PK) for tomorrow. It closed today $1.11 today (Tuesday) and snuck some news out at close. Last time we witnessed this stock double within a day, so it’s likely traders will remember this and jump on the bandwagon again. If this breaks $1.25 in early trading tomorrow this could test $1.50 by mid day. Do remember to take profits along the way, if it jumps too quickly out of the gate watch for a pull back entry.
More about this pick »
OutcastTrader is a leading research and analysis firm, dedicated to locating and tracking a select few small-cap companies with exceptional investment potential. With over 25 years in the trading and investment industry, our team is adept at identifying companies poised for significant growth. The companies monitored are meticulously analyzed by our research team and chosen based upon: fundamental value, dynamic service and/or product, and potential growth in the ever changing marketplace. Despite the excellent appreciation potential, many of these smaller companies are unknown to the mainstream investment community. We serve the whole gamut of investors, from the corporate client to mainstream investment firms, and offer multiple mediums of research ranging from company profiles to statistics, trading picks to complete research reports.
