pipsqueak3 wrote: jimbrofski wrote:
have to say I appreciate your frank perspective. Though it still seems likely that the heavy insider moves are being done to advance a story that might already be showing signs of cresting.
If you try and remove all biases you have for this company; forget anything you know or think you know about them and focus on technicals only; convince yourself it is a new chart you are looking at, you may see it in a different way.
What is undeniable to me is that from late 2010 until June 2014, CIBT was in a very prolonged bottoming period; trading well below all trailing averages (20,50,100,150,200), until a certain liquidity event occurred in which 3.3 million shares were accumulated and demand finally outstripped supply on the aggregate. Price continued trading north, met the 200, where it hesitated, but ultimately broke through to the previous major pivot point just under the .50 mark, which was set 4 years earlier. That's the cup formation. This was followed by a hefty consolidation period where the handle began to form. There were 2 more heavy accumulation periods in this cup for a total of roughly 6 million lit shares and demand once again outstripped supply and price began it's major climb. On this climb, it BLEW through the .50 mark and from there, all of the easily predictable trendlines and S/Rs have been hit, and there have not been any signs of exhaustion or unhealthy consolidation.
Unhealthy consolidation would imply distribution, which usually includes insider sales and heavy retail buying. It could appear on any number of patterns including head and shoulders formation. If you look at the chart, we supported the neckline and a pullback was created off the 100 DMA. price now has formed an inside high base and looking to break out to recent 52W high, which currently has almost no volume for sale at it. This indicates a confirmation that the current HH-HL will continue. If .74 breaks even if only for a tick, the day traders will show up and this will receive a liquidity premium at least up to .87 where it is the next logical resistance. This should be next short term target before the magic $1 where this is ultimately attracted to like a magnet. However, if it hits $1 then the market will automatically seek the next logical resistance, which is actually $1.50, from way back in 2008. KGIC revenues, plus the tipping point in rental earnings could easily be the catalyst to do so; fundamentals easily justify that price on an expectational basis.
just my 2 cents; and I always believe in what I write