most wouldnt call a 15-20% intraday swing sideways...def a good trading day
NEOM - NeoMedia Technologies Inc - Page 159
That .026 on the 9th kept bothering me and the advice you gave me (which I want to thank you for), I think a lot of people entered this today and are very nervous about there profits. Let it form a new strong bottom, and I'll buy again otherwise...it was nice doing business NEOM
10 Day average volume is 39 million, it is up more than 10% on a bigger volume of 50 million or more.
An increasing volume with increasing price is bullish as it shows that people are buying the stock in higher volumes at higher prices.
Volume should reach 70 to 100 million on Monday with bigger price gains.
Bid 880k ask 2.4 M
Not bad for liquidity I am expecting a quick spike up after that 2.4 M clears
today's action is a bit interesting. Some one placed a clear visible bid for 2.5 million shares ask at 0.0232 for the last 3 hours or so.
If someone truly want to sell those, I think they would put the asks in smaller quantities or sell slowly by letting the price climb. Instead, they kept the whole big block for trade for hours for everyone to see.
That is suspicious. It looked like an effort to scare longs and force them into selling. What would anyone think when someone wants to sell 2.4 m? Of course, the price is going to drop quickly and seems that person with 2.4 million shares want the price to drop so that they can accumulate.
In fact, there were bids of 500k to 1m at 0.023 and a lot of volume was accumulated there. Regardless, the fact that volume hit 50M while price is up 10% is telling of the potential bull move that is coming on Monday. I am expecting 80 to 100 million volume on Monday with a price above 0.03.
There may be some good news coming out on Monday as well. Regardless of the news, the stock looks ripe for a bounce. Read my posts from yesterday with detailed logic that expected todays bounce and the bounce that is coming next few days.
Let's see how this would turn out.
I'll post a reply. Neom is just one more pump and dump. I got in at .033 and stayed in when it went to .037. It has not gotten anywhere near .037 since. Yet all one hears is how this is the way NEOM always trades, weak hands are shaking out, shorts are covering, the chart looks great, blah blah blah. After looking into all the excitment of Dr. Soon buying in at market prices I am more depressed than ever. Google the good Dr. and have alook at what is in store for NEOM. Great learning experience here. Thank heaven I only bought 2500 hundred shares.