AL INTERNATIONAL INC (PINK:JCOF) continues its slide downwards after more than a month of correction. Two days ago, JCOF broke through the support established at $0.4, which added another bearish note to the trade.
In the last session JCOF slid down 6.85% to $0.34 on a volume of 386 thousand.
The same day, it was announced that the company had hired an auditor to review its books and records for the period of 2010 and 2011. [BANNER]
Apparently, the news didn’t stimulate enough traders on the long side, so the stock finished again in red numbers.
Still, it seems that a positive divergence is being formed between the downtrend of the stock and the slightly ascending MACD indicator.
However, JCOF might need more stimulation from other sources so that the favourable technical set up can take place.
