A week and a half ago, yours truly penned some bullish thoughts on Axxess Unlimited Inc. (OTCMKTS:AXXU). Not too many traders read that take, and/or if they did, they didn't seem to care. The response to the commentary was non-existent (good or bad), and there was no sudden rush to go out and buy AXXU. Today's second look may have a different outcome.
For those who aren't familiar with it (or as a reminder for the seven or so people that read the first commentary on AXXU), Axxess Unlimited is essentially a web-marketing organization, though to say "it builds websites" or "improves search-engine optimization" doesn't do the company justice. Axxess Unlimited provides high-end, integrated marketing and market research solutions for serious players who need significantly-detailed work done in the digital ether. For perspective, some of its clients include government entities, medical goods manufacturers, and automobile dealerships.
It's clearly not a bad business to be in, during the advent of mobile web. That's not a reason to become interested in the stock, however. No, the reason a newcomer may want to nibble on AXXU is far simpler... perhaps even low-brow. The reason Axxess Unlimited is quickly becoming a worthy trade is (still) the shape of the chart and the fact that it appears to be solidifying a new uptrend.
Just like the last look, AXXU is walking higher on the heels of a significant pivot - for the better - in early February. All the telltale signs were there, the biggest one of all being the volume spike on the day of the pivot. Though the bullish effort cooled a bit from there, as of last week, the bulls are piling in again in greater numbers; we've seen two heavy bullish volume days since then. Things may well be on the verge of going from good to great, however, for Axxess Unlimited. See the $0.50 level where the stock topped out and reversed in early February. That's also where shares peaked on Monday. Well, the stock's right there again right now, knocking on the door, waiting for an answer. One good nudge to just a penny higher could open the floodgates. Once opened, the bulls may pile in indiscriminately, not looking back. Take a look.
The point is, AXXU deserves a place on your watchlist, and if it can actually break above the $0.50 mark, it may well deserve a place in your speculative portfolio. Oh, and if you're wondering why the sudden interest in Axxess Unlimited, most of it likely has to do with the fact that the company owns a patent that may help law enforcing keep marijuana-impaired drivers off the road. Though it took two weeks for traders to put the January 16th explanation from the company and 2014's new recreational-usage laws together before plowing into the stock and kick-starting an uptrend, the trend is getting traction all the same.
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