Was talking about Kodak's spike in a trading group and I learned how Kodak is known as a film company but really it's more of a technology/chemical and now pharmaceutical company.
President Trump gave Kodak ( American Company ) $765,000,000 for pharmaceutical manufacturing. The US government most likely pumped Kodak's stock hence it's sudden spike.
I wasn't monitoring Kodak or any stocks, but looking at the chart which lacks so much data yet easy to read in moment, if I were invested before the spike I would have sold it between 35 and 40 dollars on the way down. I'll show you why.
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1 hour chart. Looking at the MACD at the bottom there. We see the volume ( money ) flow upward with those bars, but looking at the blue line in the MACD there was that death cross fakeout plus the shrinking volume, that's when I'd let it go. Shortly after we see the blue line cross the red while the volume wasn't doing too hot.
If by any chance you're still invested in Kodak, I'd say sell it right now cause the indicator ( that red and blue line in particular ) are wide open and falling. They will need to cross upward for it to turn bullish.
Anyone who sold around $60 at the top of that large wick. Pure luck that was over though the correction stayed in the green.
If you and Alice got this at $2 that's sweet but you said up 400% though the pump exceeds 1400%. Someone chased a big green candle didn't they. Do be careful.
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On a side note, if Kodak succeeds, it will become a new big pharma manufacturing giant. Don't know how long that will take, but whenever it's close to ready, this stock will start to boom and probably not fall to these lows ever again.
Look at this guy. Creating and bringing home jobs, lowering drug prices, and making you some wealth <3
