SNIPF took a 15% leap Monday after languishing between 0.30 and 0.35 since early August. There was a surge in volume to around 300,000 shares accompanying the move, suggesting bullish interest that has been lacking since spring may be returning. From a technical standpoint, the stock still needs to hurdle the two ‘external’ peaks shown in order to turn the intraday charts decisively bullish. The first lies at 0.3950 and was recorded on July 13; the second, at 0.4600, was recorded on June 25. If a rally exceeding those two resistance points were to occur without a visually distinctive pullback after the lower number has been surpassed, it would be quite bullish. A visit to Snipp’s web site suggests they’re having a very productive quarter. Full disclosure: I own shares in this company.
