Creative share price run out almost a dollar on announcement of their Zii product.
While on the chart it looks extremely bullish (maybe a repeat of Palm), but on closer look we need to be very careful here.
Just look at the volume. High volume in this case is only about 150k to 170k. Secondly, if you look at June 22, there is actually a ‘high volume’ selloff.
So, for illiquid counters like Creative, there is a need to be careful. Daily trading volume is only around 11k.
It certainly does not require a lot of funds to push this counter up.
Look at the volume sold off on the chart for the day ending 31 July. A bullish stock will not have such high volume sell off.