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Wednesday, May 18, 2011

SODA

SODA is a recent IPO which has just barely been trading long enough to get on the relative strength list, which is what brought it to my attention. When I saw that consolidation along the 50dma I just about  jumped out of my skin. This is about as bullish a chart as you can get. The price relative line is high, although it would be better if it has hit a new high before price. CMFlis low, but high enough that it looks to me like somebody was trying to hide the fact that they were accumulating it. Unfortunately it does not have much trading history so it is hard to guess what the probabilities are here, but it also has no resistance here.

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