Why Are These 3 Stocks Rocketing High - ZYB, WEL And IAM

ZYBER HOLDINGS LTD (ASX: ZYB)

Today the stock price of the share increased by 20% which is equivalent to the 0.002 points. The opening price of the stock was A$0.010 and closing price of the stock was A$0.012. Its closing price is near to today’s high price of A$0.013 with the market capitalization of $6.51 million. Since the past one year, the performance of the company is 25%. The total asset of the company is $1,050,303 and the total liabilities of the company is $61,744. The net asset of the company is $988,559 for the FY2018 which remains very strong and indicates a strong financial position of the company and also ability to meet its long-term obligations. If we see the candlestick pattern of the previous 5 days, there was an uncertainty in the market due to the arrival of doji candlestick pattern which resulted in the sudden increase in the stock price.Â

WINCHESTER ENERGY LTD (ASX: WEL)

The market price of the share of WEL increase by 12.903%. Early this morning the opening price of the share was A$0.039 which remains the day high. By the day end the market price of the share closed at A$0.035 which was the day low price. The market capitalization was A$8.84 million. Recently an update was published about the company’s White hat39#1L and Thomas 119-1H operations. Almost after a month of shut-in with a full formation test, now White hat39#1L is back on track. This might be a reason for a positive upward movement of the stock. Since the last 3 months the performance of the company remains positive. If we see the chart pattern, there is also an uncertainty in the market due to the occurrence of doji since past 4 days. Also, if we see the MACD line, it has cut the signal line from the below and is moving in the upward direction slightly.

INTIGER GROUP LIMITED (ASX: IAM)

The market price of the stock IAM has gone up by 16.667% since morning. It opened at A$0.013. It went up till A$0.016 and closed at A$0.014. Today’s low price was A$0.013. The market capitalization was A$20.13 million. The performance of the company was negative for a very long time. However, as per the recent update there was an announcement made regarding the appointment of new chief executive officer to the organization. This might have created a positive impact on the investors after the announcement. The company also disclosed its FY2018 annual report last month, where the net asset of the company is very strong as per the balance sheet. This might have created a positive impression about the company that it will be able to clear its long-term obligations. Also, as per the chart, we see that there is a doji which has appeared a previous day which indicates an uncertainty in the market price of the share. This could be another reason that might have led to a sudden hike in the share price. The MACD line also touched the signal line from below and is moving in the upward direction.


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