Recently on the Canadian Penny Stocks blog there hasn’t been a lot of talk about specific penny stock picks/ideas. It’s an effort to strike a balance between investing ideas, general economy/market investing commentary, and investing philosophy. The weight has shifted away from the ideas part lately though so it’s time to take a look at a company that has recently had a 100%+ move higher in the past week. The subject line of the post should give it away!

AXI.V is currently trading at $0.45 up from $0.20 on September 24th. Heavy trading volumes as well so you could have made a great return on this one if you were in at the right time. This is the first major run the stock has had in two years so it will be on my watch list to see how it performs in the coming weeks/months.

Will the stock continue higher or fall back? This is of course, the eternal question of stock market investing and if anyone could say that with 100% certainty they would surely be lying or have insider knowledge. So that being said I don’t know which direction the stock will take, but the recent run has only taken place over the past 4 days (see 5 day chart). Every day had a gap open higher. Once that demand on open has exhausted itself I would expect to see a pull back on the price. However who’s to say when that may occur. Not at this blog.

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