I've noticed it a few times before whereby an announcement is made early in the day, the stock moves and hits an intraday high before cooling off again over lunch time before then strengthening again in the afternoon.
Burleson Energy (BUR) is one example of this phenomenon I noticed today. The company announced that "AKG, operator of our projects in Texas, has completed in-house volumetric resource calculations for the Heintschel gas condensate field, and has confirmed a potentially sizeable gas condensate accumulation." Don't ask me too much about all the figures in the announcement but you can tell that it has been well recevied by the market considering the share price has rocketed 40%.
So let's take a look at the finer details of the share price movement. The announcement was made at 10:11am this morning. By looking at the course of sales at just over an hour later the stock had hit an intraday high of $0.088 (up $0.028 from $0.06) at 11:17am. The share price then started to trickle down and by 12:29pm the stock was back to $0.077. This is the key point, the lunch time lull! I've seen this time and time again where everyone goes to lunch, the buying pressure eases and it makes an excellent buying opportunity. This time period is also characterised by the lack of trades.
Now at 2:42pm the stock is back up to $0.084 so you can see that as a nice litte bounce that could have been profited from. I would recommend observing this taking place on small cap stocks that have made price sensitive announcements to see for yourself.
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