Tuesday, June 17, 2008

ABAT (Advanced Battery) up 20% today

Rumors of Lithium Ion orders related to cars is driving up the stock price. I have also heard a rumor re: Russell 2000 add but I haven't been able to verify as of now. I haven't had time to be frank about it.

I think the company is a $9-$11 stock so seeing a breakout on ENORMOUS volume was a pleasant thing to see today. The stock closed above its 200 day moving average (another HUGE plus). We'll see if the stock gaps up again tomorrow and continues a run up. $5-$5.50 has proven to be a troublesome price ceiling in recent months. If the stock could get through $5.50 a run to $8-$9 isn't inconceivable based on historic prices.

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