It is not uncommon for a stock to go on a strong rally even if there is no specific news about the company and that is what happened with the Enobox Technologies Corp (OTCMKTS:EXBX) on Wednesday.
Although there was no specific news, the Enobox stock went up by as much as 30% yesterday as investors piled on to the stock in a big way. In this situation, it might be useful for investors to take a look at a development regarding Enobox from back in March this year.
The company announced a change in management with the elevation of James Roberts as the Chief Executive Officer. While it was a significant development on its own right it is important to point out that Enobox is also looking to enter the fast growing and potentially lucrative CBD space. That was another major development from the time and that may have been another reason behind the optimism about the Enobox stock.
Market Reaction:
On Wednesday, EXBX stock jumped by 30.43% to $0.0060 with more than 11.24 million shares, compared to its average volume of 566K shares. The stock has moved within a range of $0.0044 – 0.0084 after opening the trade at $0.0045.
| Pivot Points | |||||||
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 0.0001 | 0.0023 | 0.0041 | 0.0063 | 0.0081 | 0.0103 | 0.0121 |
| Fibonacci | 0.0023 | 0.0038 | 0.0047 | 0.0063 | 0.0078 | 0.0087 | 0.0103 |
| Camarilla | 0.0049 | 0.0053 | 0.0056 | 0.0063 | 0.0064 | 0.0067 | 0.0071 |
| Woodie | -0.0015 | 0.0015 | 0.0025 | 0.0054 | 0.0065 | 0.0094 | 0.0105 |
| DeMark | – | – | 0.0052 | 0.0063 | 0.0092 | – | – |
 Stock Moves Up 30%: Is It Sustainable?){kind=link}