Gap Up of UIC

Yesterday, 12 January 2011, UIC has a significant gap up of 3 cents from $2.71 to $2.74.

If we look at the history of UIC, the event of gap up is very very rare (if you can find one).

We may find similar bullish price movement in UOL and SP Land. It worth to note that SP Land has a much smaller gap of 1 cent from $7.65 to $7.66.

The gap up of UIC is not event driven, but rather help by low liquidity and persistent buying up.

I am suspecting that the buying force since the last chunk of bulk $2.40 transaction is purely originated from retail investors. The lack of announcement from the major shareholder seems confirming this hypothesis.

The gradient of the price climbing up is getting too steep and the buying force has to catch up to support it. I start to believe that the gap covering to $2.71 is imminent.