WebSafety, Inc. (OTC:WBSI) has been steadily registering new lows for the last several months. In fact the stock has just taken a nosedive to a new 52-week low.
On Tuesday, WBSI dipped down to $0.0019 per share but closed at $0.002. Thus the short term support at the previous 52-week low at $0.0025 was breached and the stock’s candle turned red on the chart.
The next day, WBSI rallied back to the $0.0025 mark. The last two days in which this dramatic price action took place were marked by a serious increase in the trading volume.
In this regard on Monday the trading volume surged to more than 3.6 million shares. The next day the trading activity was even more intensive. In other words more than 6.3 million shares changed hands which is more or less seven times higher than the daily average.
Apparently traders were provoked by the technical set-up of WBSI stock as no news or reports have been issued recently to affect the stocks price directly. In this context, the stock’s rally from yesterday can mean that market speculators hope for a bounce off at the current bottom.
