Yesterday, the trading activity with the stock of Infrastructure Developments Corp. (OTC:IDVC) was much higher than usual. The volume generated during the day exceeded 1 million shares which is ten times higher than the daily average.
During the session IDVC felt an increased buying pressure which pushed up the share price. IDVC closed the session 22% higher at $0.135 after reaching an intraday high at $0.19.
Unfortunately, the increased activity happen without an obvious reason. There was no update by the company nor was there any recently filed report. The corporate website of the company didn’t provide any clue as well.
In fact, even technical indicators were not in favor of the stock in the last couple of days. Both the MACD and short term moving averages has been in bearish formation since last week.
It is not sure if investors will receive an official explanation of IDVC stock action. Still, those who enjoin risking on the penny stock market can find ample opportunity for speculation in the recent volatility of IDVC stock.
