Strong volume / buying a small float will pop the price. This stock has few big blocks on offers so the price can easily move up.
This stock started the upward move in Aug and has traded very hot meaning it becomes really bought for an extended time. Since Aug it had become overbought three times and the cooling-off since Dec has been very short. In Feb it RSI dropped just under 70 and now it is entering the overbought again and is close to 77 the highest it has been up to 92.
RSI is a very reliable overbought and old indicator. In the case of CJ, it tells another story that this stock is a popular and constant flow of money and spikes in prices.
This stock is in a strong upward trend in a short time the stock has multiplied 7.5 times from the bottom.
If the prices remain around WTI $60 then this stock has more room to run. The higher the oil prices the bigger the cash cow this company becomes. I don't think that they should restart Div. They should pay off the debt
House Positions for C:CJ from 20210329 to 20210329
RBC is the top buy today | 2 RBC | 291,056 | 741,403 | 2.547 | 97,945 | 250,740 | 2.56 | 193,111 | -490,663 |
| 1 Anonymous | 726,016 | 1,875,864 | 2.584 | 647,865 | 1,646,120 | 2.541 | 78,151 | -229,744 |
| 80 National Bank | 102,147 | 259,717 | 2.543 | 39,441 | 102,273 | 2.593 | 62,706 | -157,444 |
| 79 CIBC | 523,756 | 1,345,032 | 2.568 | 495,120 | 1,267,804 | 2.561 | 28,636 | -77,228 |
| 88 Credential | 27,305 | 69,814 | 2.557 | 3,000 | 7,840 | 2.613 | 24,305 | -61,974 |
| 124 Questrade | 38,870 | 99,898 | 2.57 | 23,700 | 63,425 | 2.676 | 15,170 | -36,473 |
| 85 Scotia | 91,507 | 232,194 | 2.537 | 77,463 | 199,398 | 2.574 | 14,044 | -32,796 |
| 33 Canaccord | 52,300 | 133,940 | 2.561 | 42,300 | 107,176 | 2.534 | 10,000 | -26,764 |
| 28 BBS | 2,000 | 5,121 | 2.561 | 13 | 32 | 2.462 | 1,987 | -5,089 |
| 22 Fidelity | 1,075 | 2,822 | 2.625 | 0 | | 1,075 | -2,822 |
| 19 Desjardins | 8,060 | 21,017 | 2.608 | 8,000 | 20,336 | 2.542 | 60 | -681 |
| 143 Pershing | 250 | 632 | 2.528 | 2,000 | 5,060 | 2.53 | -1,750 | 4,428 |
| 39 Merrill Lynch | 72,900 | 185,231 | 2.541 | 74,950 | 192,124 | 2.563 | -2,050 | 6,893 |
| 56 Edward Jones | 0 | | 3,000 | 7,920 | 2.64 | -3,000 | 7,920 |
| 14 ITG | 0 | | 3,400 | 8,334 | 2.451 | -3,400 | 8,334 |
| 13 Instinet | 0 | | 4,900 | 12,446 | 2.54 | -4,900 | 12,446 |
| 74 GMP | 0 | | 10,000 | 26,401 | 2.64 | -10,000 | 26,401 |
| 57 Interactive | 670 | 1,681 | 2.509 | 14,904 | 39,449 | 2.647 | -14,234 | 37,768 |
| 76 Industrial Alliance | 0 | | 22,500 | 57,600 | 2.56 | -22,500 | 57,600 |
| 5 Penson | 18,840 | 48,211 | 2.559 | 44,550 | 114,537 | 2.571 | -25,710 | 66,326 |
| 7 TD Sec | 371,844 | 954,016 | 2.566 | 437,503 | 1,127,563 | 2.577 | -65,659 | 173,547 |
| 83 Mackie | 0 | | 80,000 | 210,803 | 2.635 | -80,000 | 210,803 |
| 53 Morgan Stanley | 500 | 1,276 | 2.552 | 88,900 | 225,390 | 2.535 | -88,400 | 224,114 |
| 9 BMO Nesbitt | 64,518 | 163,570 | 2.535 | 172,160 | 448,666 | 2.606 | -107,642 | 285,096 |
| TOTAL | 2,393,614 | 6,141,439 | 2.566 | 2,393,614 | 6,141,437 | 2.566 | 0 | -2 |
Even when the other oil stocks are trading lower and this stock is up 8 % there are no blocks or walls on the offer. It is better that it moves up gradually. There are still gaps in the bids which can create volatility on down days. It needs to create a broader base of bids. Since I was writing the post the stock has moved to 2.725 and up 9 % I see one offer of 100k shares now at $2.73 by National Bank Broker 80
After the open and small pull back most of the buying is being done on offers.
