Cannery Technologies' IPO Was Sold Out Immediately at Its Opening

Multiple Choice

Cannery Technologies' IPO was sold out immediately at its opening of $10 a share and closed the first day of trading at $18.25. It continued to rise for two weeks, hitting a high of $22.45, before dropping for four weeks to a low of $13.35. Two weeks later it was continuing to climb steadily surpassing $14.80. Which of the following best describes the market action in this stock?

A) Had a market correction.
B) Been a poor investment.
C) Described a cup and handle pattern.
D) Had a predictable price adjustment.
E) Just offered a clear buy signal.