Friday, October 30, 2009

VKNG on Oct 29, 2009: provoking hopes of a come-back

VKNG long range
VKNG day chart
VKNG 5min chart
The picture here resembles UNCO: the stock has seen better times, has been in a steady decline, then comes this sudden jump in price. Unlike UNCO, there is no news and judging by the 5min chart, the rise in price is somewhat more gradual. After hitting the resistance at 0.04, the stock pulls back -- this is seen very frequently in such cases. The 5min chart looks somewhat similar to BPMA with similar volume and similar lack of news. As we now know, BPMA went nowhere after the event.

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