RecapXebec traded 161,000 shares on the TSXV alone in the final 20 minutes today, moving from $4.97 to $5.04. What may or may not be lost on some people, is how unbelievably significant and telling today's move was. We have to remember, it had come from Friday's close at $4.68.
Today's move proved tremendous momentum in that any stock of lesser interest to market participants would likely have been turned back at $5, up 32 cents on the day, the old high, and an obvious psychological barrier. iI did not. It cut throuhg 5 "like a knife through butter."
We have to "listen" to the market, as I have often posted on this board. Today the market was screaming loud and clear.
Any true technician knows the adage " Resistance, once broken, becomes support". While there was clearly resistance at $5, that's gone now.
What a terrific day in the evolution of this company.
Many people think that it's a good idea to sell a stock at all time highs. That's the wrong mindset . Every small company has to make a succession of new highs over time to become a big company, and every big company was once a small company.