KBLB - Pullback And Bounce

KBLB - Kriag Barcroft Laboratories sustained a nice bounce after a week long decline from the most recent high of .14 as traders starting buying the stock in the .09 area. We told readers about KBLB on 4/13, see our post here. Interestingly enough, .09 is where the stock closed on April 12 after the gap up opening that morning as seen on the chart below.

Savvy penny stock traders that utilize charts for trade entry saw the relevance of .09 as a strong area of resistance in the months prior to March. They anticipated a bounce at .09 as the new established line of support as a result of the breakout which occured on 4/13. The stock finished strong today opening at .094 meeting some selling pressure early on which printed the low of .09 before gaining upward momentum closing on the day at .105, up 10.53%. The coming days will tell if the stock can maintain the current upward trend with all indications pointing to a good possibility of this happening.