We talked about EWSI on Friday, at which time it was trading at a low of .043, and have monitored the stock throughout this week. Yesterday, we saw a high of .0519, marking a 21% move off of the bottom. We wanted to see EWSI hold above its 50DMA (.045), and it has thus far managed to do so. Looking forward, we’d like to see the stock continue to hold above that level.
The company had some news out yesterday regarding plans for the opening of the largest e-waste facility in India:
LONDON, UNITED KINGDOM, Oct 08, 2013 (Marketwired via COMTEX) — E-Waste Systems, Inc. (OTCQB: EWSI) (‘EWSI’ or the “Company”), an electronic waste management services, technology and reverse logistics company and the first public pure eWaste company, announced today that it has signed an MOU with Cerebra Integrated Technologies Limited (‘Cerebra’), a publicly traded company listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Cerebra, based in Bangalore, India is India’s leading total IT Solutions provider. The agreement calls for the creation, in Bangalore, of the largest E-Waste facility in India, using EWSI’s ePlant1000(TM) technology. The facility is expected to achieve at least 98% recovery of recyclable materials. An investment via a share exchange between the partners is also expected to form part of the relationship.
Celgene Corp. CELGZ
We were watching CELGZ yesterday due to abnormal pre-market activity, for the possibility of quick gains, and that’s just what we got. The stock, after touching a low of 1.39 rumbled upward to as much as 2.70, a 94% intraday gain. This came on roughly 33X the 3mo. average volume.
With that kind of momentum, it appears as if CELGZ’s success could spill over into today’s session, so we’ll want to keep this one high on our watchlists.
Extended Watchlist: