Audioeye released excellent results today
which indicate that the company is on its way at last. Initially the stock blasted higher on this news, surging to $.27, but was immediately beaten back down by a wall of overhanging supply, so that it is now, at the time of writing, only up about 13% and looks set to close with an “Inverted Hammer” candlestick on its chart. At first sight this apparent inability to hold a gain might be construed as bearish, but it is not – the turnaround and drop is caused by a lot of pre-existing sell orders that have not been cancelled, usually because the investors who have placed them are not yet aware of the good news, or even if they are, are disillusioned with the stock and inclined to sell. Thus, when a large example of this type of candle appears on the chart, especially on strong volume, it is followed by a sustained advance.
Audioeye is therefore rated an immediate strong buy ideally before the close today.
AudioEye Inc website
AudioEye Inc AEYE on OTC, trading at $0.19 at 3.20 pm EST on 11th January 18.
Posted at 3.35 pm EST on 11th January 18.