Throughout the whole week, Arcis Resources Corp. (OTC:ARCS) has been flirting with the resistance at $0.6.
On Monday, the stock registered a 8% decrease in its share price which fell down to $0.55 per share on a volume of 5 thousand shares – 7 thousand below the daily average.
The next day, ARCS rallied back up to the resistance. This time on a volume higher than the daily average. More than 20 thousand shares were exchanged during the day.
On Wednesday, the stock lost 5% of its value and closed at $0.57 per share. The volume was to some degree higher than the previous day. Roughly 27 thousand shares changed hands during the session, which is more than twice the daily average.
However, it was yesterday that traders could see a significant surge in the trading volume. The number of traded shares exceeded 126 thousand, which is more than 10 times higher than the daily average.
The huge volume was due to the published press release on the Internet. The publication announced that Mobile Fluid Recovery, a subsidiary of ARCS, had entered the Dallas market in an effort to service several of its customers with national footprints.
Despite the increased trading activity produced by the press release, the share price remained unchanged at the closing bell. In this regard, it seem that the resistance which ARCS faces at the $0.6 may turn out to be stronger than expected.
