The volume has been increasing in shares of Cogent (COGT) on the up days and it looks like the stock is working through supply at 15.50. If the stock can trade above 15.50 it is going to put a lot of shorts in a bad position. The chart looks like there isn't much potential for resistance until the mid-2005 lows near 20.50. If it breaks out I wouldnt risk more than a dollar.
Cogent, Inc. is a provider of automated fingerprint identification systems (AFIS) and other fingerprint biometrics solutions to governments, law enforcement agencies and other organizations worldwide. Its AFIS solutions enable customers to capture fingerprint images electronically, encode fingerprints into searchable files and compare a set of fingerprints to a database of potentially millions of fingerprints in seconds. Cogent offers biometrics solutions to the government sector, which consists of federal, state, local and foreign governments and agencies. The Company’s products for the government sector are principally AFIS solutions, and its products for the commercial sector are other fingerprint biometric solutions principally based on its application specific integrated circuit (ASIC) technology. At the core of each of its products is its Image Flow Processing, Data Flow Computing and Information Fusion software.