Ceres Power springs to life. Looks like the overhanging sellers finished.

UPDATE – The stock is again up this morning on heavy volume of approaching 1m shares already. I understand that discussions with a number of institutions in relation to a fund raising have gone very well and so it looks likethe future of the company is secure to the point of commercial launch. It wouldn’t surprise me if the fund raising is by way of a placing and open offer at the 10p level.

We are a big fan of this stock and believe that it is one of the true potential 10 bagger opportunities out there having recommended it on our July edition (see here page 16 – http://issuu.com/spreadbetmagazine/docs/spreadbet-magazine-v6_generic). We opined upon the likelihood of a funding announcement in our previous blog and the determined buying in recent weeks that has soaked up the seemingly incessant seller adds weight to thus speculation…

2 month daily chart