Low Float Inpixon (NASDAQ:INPX) Could Be A Quick Trade Opportunity

Inpixon (NASDAQ:INPX) has rocketed into the early part of this week. The company was trading for $0.21 a share on Friday – a level that it hasn't really been able to break since late August. By the close of play on Monday, however, Inpixon went for $0.37 a piece – a 70% appreciation across the session. Premarket activity on Tuesday has added an extra 10% to this run, with the company set to open up its Tuesday account at a little over $0.40 a share.So what is driving the run?Well, at first glance, nothing. Inpixon hasn't reported any fresh news for a month or so and we've not seen any SEC filings since and HR 8K back on September 8, 2017. With that said, however, there hais been plenty of chat about this one on the message boards and elsewhere and, for a few weeks now, it's very much been on the radar as a potential breakout play. INPX Daily ChartThe thing with these sorts of stocks is it doesn't really take much to get them moving if the charts line up nicely. Specifically, if a stock looks like it's poised for a breakout, and you've got a fairly sized portion of the market interesting enough to keep an eye out for any such breakout as and when it occurs, then a run can be a self-fulfilling prophecy. Combine this with an incredibly low float and you get a perfect storm of high-volume demand and severely restricted supply – exactly what we have seen here.The question now, of course, is what's next?This one's a little less interpret.It's safe to say that we are probably going to see some early-morning strength on Tuesday as normal participation gets underway and builds on the premarket activity that has already pushed the stock up 10% on yesterday's close. With that said, however, likely also safe to assume that we may see some degree of correction intraday on Tuesday as the shorter-term operators (i.e. those that loaded up over the last few weeks in anticipation of the breakup just occurred) close out positions and take profits from the table.There is a chance that any such correction might be a nice opportunity to jump back into the markets in anticipation of a second wave of buy volume inflow. Especially if the company gets involved and provides markets with an update as to what's going on and, in particular, if we see any fundamental development that could serve to compound the current bullish sentiment.In other words, what we would love to see now is a brief correction followed by a press release from Inpixon detailing anything remotely positive operationally – a new contract, a new product, that sort of thing – as this would add to the equation some structural basis for the recent appreciation and should serve to justify a second wave of buyers pulling the trigger on an exposure to this low float breakout stock.Keep in mind that this is very much a short-term trade idea. For those that are new to this company, Inpixon offers a sort of network-based tracking system that links and tracks internet-connected devices and monitors activity within a specific area. This is likely a growing market, but our near-term expectations for the stock are based on the company's ability to capitalize on said growth. If it can, there may be some justification for a buy-and-hold. Right now, however, that's not our focus.Instead, we're looking purely at what the charts are telling us here and what they ramp up in shareholder interest can do to a low float play like Inpixon.Bottom line: a quick turnaround opportunity but don't get caught out.We will be updating our subscribers as soon as we know more. For the latest updates on INPX, sign up below!Image courtesy of NASA Goddard Space Flight Center via FlickrDisclosure: We have no position in INPX and have not been compensated for this article.