Just been tipped to go for Laser Crad Corporation on the Nasdaq will rise from £7 to £11 within a week due to the italians introducing a ID card, anyone heard about the italians doing this?
I used to trade futures, movement like that is very rare and i can tell you it's very unlikely for a stock like this one to suddenly go up over 50% in a week in the current climate.
They certainly could, but they are then very, very likely to drop again, at the same speed if not quicker (due to small volumes and fear) the moment they peak.
There is no sustained push in the market as there is far too much fear and greed taking over when this kind of thing does occur.
Momentum in the stock decreases and people start to sell, before you know it the market will become stagnant or near illiquid. It will find a trading range and stick within that range.
This stock has been trading within a range for about 9 months and is now nearing 6 month highs. If you really want it, which will be very risky and not a good thing to do, wait till it makes new highs at over $14,
do not buy below this level. Selling would be hard to judge (if it was to go past $14 and continue), it'll go up very slow (if it does) and it'll struggle at $20 & then again at $22 ish.
If it stays below $14 don't touch it, it's approaching $14 now and showing decent strength, but looks set to drop within about 5-10 days to a low of about $10-$12, which could take a month.
I wouldn't buy it if it went past $14. In all likelihood if it broke $14 it would drop back into range anyway, it'll continue to whipsaw and do fuck all
Please don't buy it.
There's an old adage, where there's a tip there's a tap. If someones tipping you, it's because they need to shift them, if he's a broker tell him to fuck off.
They are an electronics company and they are involved in ID cards though...
I never have and never will study fundamentals so i have no idea whether they are going to make an ID card for Italy and how strong a company they are. I'm a chartist and as far as i'm concerned there is nothing there to say anything fantastic is about to happen.