IORG Daily Chart ~ Churning on Low Volume in the .
Post# of 2561
Posted On: 03/13/2016 5:28:38 PM
IORG Daily Chart ~ Churning on Low Volume in the .70s to .90s
As the float on IORG is absorbed more and more as every week goes by, IORG is becoming more volatile. This last week saw two days which dropped the share price from .90 to as low as .66 while rebounding into the .90s and a close of .90 on Friday. After closing at a new multi year high on Monday at .90, a 20,000 market order dropped the stock to .66 in just 4 minutes. The share price bounced back on Wednesday and closed at .97 for yet another new multi-year high. The trading on Thursday had less than 5,000 share take the stock down to .705 before closing at .90 again. I'll post a Monthy Chart next, as it better reflects the longer term outlook for the stock based on technicals.
As the float on IORG is absorbed more and more as every week goes by, IORG is becoming more volatile. This last week saw two days which dropped the share price from .90 to as low as .66 while rebounding into the .90s and a close of .90 on Friday. After closing at a new multi year high on Monday at .90, a 20,000 market order dropped the stock to .66 in just 4 minutes. The share price bounced back on Wednesday and closed at .97 for yet another new multi-year high. The trading on Thursday had less than 5,000 share take the stock down to .705 before closing at .90 again. I'll post a Monthy Chart next, as it better reflects the longer term outlook for the stock based on technicals.
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