Cascadia Investments Inc. (PinkSheets: CDIV, CDIV message board or CDIV.PK) is on the move yet again. With no news publicly available the stock seems to be traveling along the established uptrend on its own accord. It is rather strange though as the main market indexes were down on Thursday and meanwhile Cascadia added 27%.
Considering the move is on purely technical reasons the price has already passed one important resistance at $0.03. The volume for the day is looking considerably heavy as well - hitting over 500k in just few hours into trading and already above average.
Another resistance that stands in a way is at $0.035. It is doubtful if the price can go above it today as some consolidation was happening amid the day showing traders were already taking profit.
The current support is at $0.025 as it's a previous resistance level. Another support, marked as a green line, also marks somewhat of an uptrend. However the strength of this uptrend is currently rather weak.
If there won't be any updates to support and fuel this uptrend it is likely to fade out as there were no fundamental improvements to start if off in the first place. According to their unaudited financial statements the company is making $42 thousand per quarter and is left with a few hundred in loss each period. They also have nearly no cash left. Such an entity simply cannot trade up for extended periods.
Reference:
User comments
Follow the discusion about Cascadia Investments in the forum