I know there are some new comers wondering why this didn't take off more on the announcement. I put out my warning during the day that the announcement is nothing solid, it is simply a 'possibility' of securing the deal/money. Market doesn't like forward looking statements and 'maybes', the market loves facts and figures that are 100% because that de-risks a stock.
Having said that, there are people (and I'm guilty of this sometimes too) that skim-read the announcement and hop on the money-train because they see the stock price rising and don't want to miss the boat. Those are the ones that get stuck at 2.8c, and they wonder "why didn't this go higher?"
This is all just IMO by the way - there might be other factors like how much cash they have remaining, potential cap raises etc. But I didn't bother looking because I was in it to take money out of the hype.
BUL in @ 3.3c
I should have waited for a pull back to 3.0 - 3.1c but the first time 3.3c wall was being broken I was expecting a continuation break out. Looking at the daily and weekly chart... BUL looks great. Breakout of trend, 2nd day above the top bollinger, volume confirmation of breakout and it closed on the daily high which makes the chart look even better!
A little trade rule some of us at TurboTrader follow is to exit a position once it reaches the 3rd day above the top bolli (some exceptions to this of course, but it's a general rule).
