CRGO.OB – Ready for Breakout ?

Last month, CRGO.OB had a first move with huge volume. It entered my watch list, and now I think there are conditions for a further rise.

Company Profile:
Website: http://www.cargocon.com/
Cargo Connection Logistics Holding, Inc. provides transportation logistics services for shipments importing into and exporting out of the United States. The company engages primarily in hauling truckload and less-than-truckload shipments of general commodities in both interstate and intrastate commerce. It provides back office operation for companies, such as insurance, financial, and regulatory operations. Cargo Connection Logistics also involves in the warehouse and distribution movement of dry goods. In addition, it operates a container freight station. The company is based in Inwood, New York.



This is a small penny, with low float, I think the Yahoo data is not accurate, but on otcbb.com I see 44M outstanding shares. Today’s volume is already more then that, showing strong buying power on the play.

Technically speaking, there are several patterns going on, we’ll probably watch a G-Pattern breakout today (g-spot = $0.023), and at the same we have a descending trend line @ $0.025. If we watch a breakout of both values, we’ll have a major buying signal here.

So we are buying before that to happen…

My primary target on this move is $0.055… This is high risk, so I just have to have a large stop loss, approximately over the $0.015 zone.

I’ve just bought CRGO.OB @ $0.0225 for the «3 Pennies On Fire» Portfolio (10% of total equity as usual).

Best regards,




Frederick Ramsburg
www.3stocksonfire.org

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