Sky-mobi(MOBI) is a mobile application store in China. Sky-mobi operates mobile social games and provides applications and content with social network functions to its registered members. This stock is trading up 7.4% at $4.06 in recent trading.
Today's Range: $3.72-$4.25
52-Week Range: $2.75-$23.25
Three-Month Average Volume: 186,634
From a technical standpoint, this move in MOBI today is now pushing the stock within range of a major breakout.
Traders should now watch MOBI for long biased trades if the stock can manage to take out $4.19 and then $4.49 on high volume. Look for volume on a sustained move and close above those levels that's near or above 186,634 shares.
If we get that action soon, then look for MOBI to make a run at $5.50 to $6.13, or possibly even its 200-day moving average of $6.46.
I also featured Sky-mobi ahead of its recent earnings report in "5 Stocks Set to Soar on Bullish Earnings." Keegan Resources
I'm long from the $8 range and have done some options here and there to make up for some of the loss and think MOBI can come back up...Just wondering your take on today's action and if Android alone can propell it higher or what other things might be in the news helping it get such a big move?
Sky-mobi Limited (MOBI): Engages in the operation of a mobile application store in the People's Republic of China. Price at $3.88. 5-year projected EPS growth at 25.00%. Shares shorted have decreased from 659.93K to 578.92K over the last month, a decrease which represents about 1.12% of the company's float of 7.25M shares.