3DIcon Corp (OTC:TDCP) has retracted into an accumulation phase since the end of June, after nearly a three-month down trend. The average daily volume has decreased to 2.5 million shares, which makes nearly $50 thousand ?? daily dollar volume.
The number of outstanding shares of the company, however, is over 1 billion shares and there is no sign that TDCP will stop issuing additional shares and warrants to finance its operating activities.
For instance, during the last quarter financial documents indicate that TDCP had burnt $266 thousand in its operating activities. The cash source of the company was mainly from financing activities. As indicated by the report, TDCP had gathered $750 thousand through issuance of stock and warrants. [BANNER]
From a technical point of view, the 
bullish crosses that were formed by the MACD and the short-term moving averages one week ago have apparently exerted some influence on the stock, which has risen slightly since then. However, TDCP is still tapped below the 50-MA, which may discourage some part of the swing and day traders.
In the last session TDCP rose 6% to $0.024 on a volume of 2.2 million shares. But since there has been neither news nor reports for more than a month now, it is not very likely that TDCP will leave the confines of the current trading channel, unless the company comes up with a meaningful update on its operations.
