Cord Blood America Inc. (OTC:CBAI) has made a positive technical break out since October 24. On that date the company release a press release which most likely stands behind the upward spike of CBAI stock.
CBAI has scored seven consecutive positive sessions in which it rose from $0.019 to $0.056. Volume was rising simultaneously with the uptrend and on the last session a new record high volume was registered.
Roughly more than 5.4 million shares changed hands on the last session, which is a 52-week record value for CBAI stock. At the end of the day, FINRA indicated that 2.1 million shares were exchanged in short transactions, which is less than half the total volume.
The excitement on the last session was underlined by a press release which was published through the PR Newswire system. The publishing concerned the accomplishment of the company’s referral rewards program. According to the press release referral sales had risen from 8% to 21% of total sales.
From e technical point of view, CBAI stock had received support form a climbing MACD. At the same time, CBAI is flirting with the 50-MA and investors’ eyes will probably be fixed at this point on the coming sessions.
