IGO4IT said:Price gapped today on opening & closed on new highs, old 10.5c psych. resistance is history.
this is what pros says about this gap:
"A breakaway gap occurs when prices leap out of a congestion zone on a heavy volume & begin a new trend. An upside gap is usually followed by new highs for several days in a row & then a series of lows"
"A breakaway gap marks a major change in mass mentality - it reveals a great pressure behind the new trend. the sooner you jump aboard the new trend, the better"
These are quotes from Dr. Alexander Elder book "Trading for Living".
cheers
yes you are right so far. 8% up by 10:30am