Andiamo Corp trades on the OTC Market with the ticker ANDI. Traders are watching it more closely now since late January when the stock showed signs of revival on the news that the managing partner of Canada's most well known venture capital firm, Loudon Owen, is joining Andiamo as an advisor. He has experience in winning patent cases.
Looking at price action alone, ANDI has all the traits of a pennystock and is the opposite of a stock like GOOG or FB. Since Jan 26, the stock is holding in the $0.03 range but not breaking through the $0.03 range, and the stock had no value to speak of since October of 2016. The only reason to trade this stock is on indicators of a clear breakout.
It is not a worthy pursuit to buy and sell a choppy stock that is stuck in the $0.03 range. Taking a 100,000 position in the $0.03 range when the stock re-dips to $0.031 can create a selling opportunity when the stock rebounds to $0.034 HOWEVER profiting from this kind of trading activity is akin to scalping and is NOT meaningful. Your broker should not be Robinhood and should be a broker that can get you an execution without slippage. For a trader looking to profit $0.003 a share, a poor execution would waste this trade.
Instead of forcing this trade, wait. The 5 year look at this ticker's price history is an eyesore begging the question why would any pennystock trader seek opportunity in Andiamo Corp's stock. A closer look at price history shows that this stock consistently holds resistance at $1.40 and has support at $0.70
Andiamo is in the smartphone market and focuses on developing and distribution its services to emerging market economies where competitors are relatively scarce and growth potential is greater.
ANDI the current ticker symbol will soon become ticker UTOP, the CEO Mike Starkweather saying the new symbol is in line with the company's long term vision.
Join now or log in to leave a comment