The accumulation for SMVI is quite a sight to behold. You could see it today in the trading. The buys far outnumbered the sells and each healthy pull-back was bought. Its starting to become evident that investors are holding their shares for higher prices. With each step higher today we saw less and less supply of shares on the offer. If this trend continues the stock should maintain its steady ascent.
The $.0006 price is one I noted in my Friday night update on the blog. If SMVI can clear this figure tomorrow, than we can put the 200 day moving average into focus as the next logical point. The 200 day moving average is currently $.00011. A break of that price would make the 2011 high of $.0022 the next price to focus on.
These triple zero stocks can get a mind of their own. With SMVI being in the very hot Social Media sector, I could see interest continue to grow which would make the potential for gains impossible to gauge. Just look at LEXG, a stock I posted on my blog about at $.12. Who would have ever thought that stock would trade for over $10 a share less than a month later? That's the great part about these stocks. The can surprise you to the upside in a big way.
With SMVI we could be witnessing the beginning of an impressive rally. The accumulation on the chart is telling me people are buying and the selling is light, the share structure is attractive, the company is planning a big launch on June 17th, and the company resides in the hottest sectors out there. Social Media Ventures [SMVI] should continue to impress going forward.
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