Taiwanese steel-structure maker Century Iron Steel (5314) has hit its daily price ceiling seven days in a row, a big win for anyone already holding — and a risk for anyone chasing it now.

• The stock gapped up at the open and locked limit-up again, extending a seven-day winning streak.
• Buy orders piled up fast, with tens of thousands of lots queued at the ceiling price and almost nothing trading.
• The run is being driven by a post-dividend catch-up rally, where the stock climbs back toward its pre-payout price.
• Small investors are celebrating online, with many complaining they cannot get filled at all.
• Some are warning that the queue of buy orders is shrinking, which often signals the run is close to breaking.

Outlook: The rally holds as long as buyers keep stacking up at the ceiling, but a thinning order queue would likely bring a sharp reversal.