EEI
EEI took a breather for this week and traded between 3.25 and 3.60. There was only 1 day when the stock was sold down and on the rest of the days, the stock was bought up. This just indicates that a lot are still bullish with this stock. With such a momentum moving upward, I am somehow expecting for stock to form a pennant or flag formation. The price action last Friday saw the stock move from 3.35 to a high of 3.60 which suggests a breakout from a flag formation. However, the volume in my opinion is just average, relative to the volume of the previous days which is not very much a good breakout volume. If the stock proceeds to move higher for next week without a good volume of above 5M shares traded, this means the stock may be nearing its exhaustion level. Watch out for the price level of 3.80 to 4.00, the stock may find it hard to move past that level if the volume is still thin on its upward moves.
CMT
CMT also took a breather for last week and traded between 0.91 and 1.02. The sideward movement is perfect for a flag formation. A breakout is still to be seen so watch out for this. A good break out volume would be around 10M shares traded
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