What’s Up With Converted Organics (COIN)?

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09:48:33 am on August 4, 2009

Yesterday Converted Organics (COIN) soared nearly 50% with near record volume with no news (at least that I have been able to find).  Perhaps the news will come out later.  There is news out this morning that customers are seeing positive results with their organic fertilizers and placing additional orders which insiders may have acted on.  Hard to say.  At any rate, the move is exceptionally bullish as the stock cleared the 50 day moving average again.  It appears poised to retest the May highs (which happens to be the 200 day moving average) around 2.50 in the coming weeks.


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