AXTI from the article..... 6 High Momentum Stocks To Watch Next Week
The rally in AXT Inc (NASDAQ:AXTI) continued and shares broke out past resistance at $3.05 on expanding volume and its early November high. My trigger to buy more shares was hit this morning. The On Balance Volume indicator made a new higher high this week, signaling interest in accumulating shares by investors. Momentum picking up with MACD climbing and RSI rising. Look for a quick run to $3.30 then on to $3.6. The technical chart shows buyers are back.
easily headed back to book value.add short covering to momentum players = POP! GLTL
All true but this is still a thinly traded stock which can be somewhat manipulated. We shareholders are lucky in that the late buying pressure is in our favor.
Then, what the charts don't foretell is the upcoming debt issues which, after the weekend talk shows, seem like they will be contensious. I fully expect a gov't shutdown and wonder how the markets will react. It may not be all that bad a thing unless the company does business with the Federal Government. There is something like $250 billion in tax/royalty revenue each month which will pay the bills and such.
Interesting the tactic the Dems are taking in that they don't want this tied to spending cuts saying we should pay our bills.............but the Sentate has not passed a budget for 4 years now. Right or wrong, at least the House has debated and passed a budget.........which was then never amended/passed in the Senate.
And, we should give these people a higher debt limit???
Also, what never gets asked is why the Federal Gov't always needs more and more money. Why can't they adjust to economic conditions like businesses need to do. Perhaps just too many lawyers and enough business people in DC.