Can These Stocks Surprise The Market? Ion Geophysical Corp (IO), Flotek Industries Inc (FTK) and Cumulus Media Inc (CMLS)
New York, NY – GDP INSIDER – 05/12/2014.
This article discusses three companies: Ion Geophysical Corp (NYSE:IO), Flotek Industries Inc (NYSE:FTK) and Cumulus Media Inc (NASDAQ:CMLS)
Ion Geophysical Corp (NYSE:IO) continued its recent downward trend yesterday with the stock hitting a new one year low of $1.76 before recovering slightly by the end of trading, down 10.20% or $0.20 on higher than average trading volume of 1.02 million, compared to its 30 day average trading volume of 0.571 million. The stock has not been performing well over the last 52 weeks as the share price has decreased over 57%, far underperforming the S&P 500 which is up 10.96% for the same period. However, with the stock now down over 25% over the last five days and RSI at 25.25, it is starting to look like a very good potential purchase, making it a buy at this time.
Flotek Industries Inc (NYSE:FTK) continued its recent decline yesterday with the stock hitting a 52 week low of $11.25 before jumping back slightly to close down 7.61% or $0.94 at $11.41 on heavy trading of 1.924 million shares, compared to its three month average trading volume of 0.878 million. The sell off began on no major news and the stock is now trading 65.34% below its one year high of $32.92. With its MACD diverging in a bearish direction and RSI of 25.44 the stock has plenty of room to fall further, but is also positioned to make strong gains if it can announce some positive news in the near term. Worth holding on to but not a potential buy at this time.
Cumulus Media Inc (NASDAQ:CMLS) continued its recent gains yesterday as the stock gained twenty five cents to finish the day at $2.40, an 11.63% increase in value from its previous closing price of $2.15. The US-based owner and operator of commercial radio station clusters has been falling steadily for the last one year with the stock down 60.26%, but has been starting to gain back some of these losses over the last one week with the stock up 13.21%. With the stock just passing a positive MACD crossover and RSI at 50, the stock has significant upward potential, making it a hold and speculative buy at the right time.
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