AppSwarm Inc. (OTCMKT:SWRM) had a big day Friday. What does it mean for Monday? Should traders bail and take profits or buy for an upcoming bigger move?
Market Action
Shares of SWRM were on fire Friday. Volume was 249 million shares 15 times its 30 day average trading volume. The stock opened at .012 and ranged between .011 and the high of .0287.
The advance was news driven. Shares traded just above a penny till news hit at 1:44 then it was off to the races. SWRM ended up closing the day at .0284 just .003 from the high. Looking at a one minute chart you will see the high was put in in the final minute of the day. Buyers were bidding the stock up till the final bell. Some might look at this as a good sign for Monday morning. SWRM made it on to volume and price movement scans for sure and investor researching the stock may like both news announcements from the week.
The last 3 press releases from SWRM are blockchain related which investors have a big appetite for these days.
AppSwarm Launches DogeLabs.io for Application Development on Dogecoin Blockchain
AppSwarm to Launch Blockchain Research Lab in Tulsa and New York in Partnership with AI Venturetech
AppSwarm Announces Launch of Blockchain Research Division for Application Development
Friday’s move was impressive. It reversed the week’s slide and is the highest the stock has been in weeks. SWRM made a big run back in February all the way to the .063 area. Will there be a repeat? No one knows for sure but the stock closing on its highs Friday will be looked at as a positive by some for sure. There will also be no shortage of traders that bought the stock cheaper in the days before this run and that could put pressure on the stock. Put this one on your watchlist for Monday and see.
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