Eastman Kodak is up over $3/share in after-hours following yesterday's close and is trading at $10/share. Expect strong volume of buyers at the market open and hope that the ticker holds its highs for a multi-day or multi-week run given the sizzle around bitcoin and crytocurrency plays right now.
The share price had a 46% climb yesterday and is spiking with strong momentum.
A hour and half to go before the market open today and the stock is now up 58% from yesterday's close.
Analysts and technicians are bullish on KODK. The number of shares of KODK that were traded in a single day yesterday, 65.2 million shares, was GREATER than the 45.2 million shares that are in the float. AVERAGE Daily trading volume is 217,000 shares.
Eventually the stock will be overbought, where the price has been pushed too far up and traders can expect a pullback in price action.
When price action stalls and volume wanes, this is a potential short.
Never short the pullback until the second red day; there's money to be made on the backside.
Eastman Kodak, whose camera film revenues were decimated with the introduction of digital cameras, has announced their intention to create a crytocurrency for photographers called KODAKcoin. Transactions using the coin are verified and validated through blockchain technology, which is described by experts as an incorruptible digital ledger whose information cannot be altered.
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