Cyber Apps World Inc. (OTCMKTS:CYAP) closed higher Monday snapping a fourteen day losing streak.
Market Action
CYAP closed at .0689 up .0499 for a 262% gain Monday it’s first green day in 14 sessions. 14.6 million shares traded hands almost 100 times its 30 day average volume. Trading opened at .0315 and ranged between the low of .0196 and the high of .1025.
CYAP has been on a steady decline from its November 202 high of .69. Could Monday’s action change that?
One thing we know for sure is the huge volume spike and big gains will put CYAP on lots of scans. Traders looking for ideas will take notice of Monday’s action and the stock will end up on lots of watchlists for the rest of the week. The fact that CYAP did not give up all its gains today will be looked at as a positive by investors looking for momentum plays. It shows there was buying. If you take a look at the time and sales you will see the stock was as high as .08 till the last half hour of the session when some traders took profits off the table.
Monday’s News Highlights
Cyber Apps (CYAP) Disputes EMA Financial LLC’s Note Conversion Attempts. CYAP said that it is disputing EMA Financial, LLC’s (“EMA”) ability to convert part of EMA’s $60,000 promissory note into shares of the Company at a price of approximately $0.02 per share.
Perhaps this news signaled investors there may be less pressure on the stock on the near term causing traders to bid the stock up. If more buyers show up there could be a run back to Mondays highs then on to test the 13 cent range where a run stalled in April.
Be sure to put CYAP on your watchlist to see what happens.
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