Yesterday Brekford Corporation. (OTC:BFDI) hit $0.67 per share for the third time this month. The resistance held again, but how long will it last
Almost 140 thousand shares changed hands in the session. The number is far below the highs from late July and the spike in September, but it’s still significantly above the average.
BDFI got to the current trading level after the results for the third quarter were made public. It was a third quarter in a row of revenue growth and increasing income.[BANNER]
This could be the start of volume generation which could push BDFI through the resistance at $0.67. However, it should be noted that the run has been fueled mostly by financial results, and it may take a while.
Then there’s always the possibility of a downturn in business, but at this point there’s no indication BDFI is in any kind of trouble.
The company provides fully integrated vehicle installation services, rugged mobile information technology solutions, and automated safety enforcement systems.
If BDFI manages to keep on track, the run could continue. It is one of the few OTC stocks that has made a run based on results rather than promotional hype and sensational press releases.
