KNDI

One things I ignore when considering positions to take is the "story" on the stock. This is a Chinese car company that makes electric cars, and there is a story floating about that the Obama administration is going to subsidize electric car purchases. That may or may not have been the catalyst for today's move, and i really don't care, because the chart pattern said a move like this was likely. After a previous breakout, it stopped to form a "pennant" which is normally bullish. It followed through on that today on high volume and closed 2 cents above the breakout point.