Since, Pacific Gold Corp. (PINK:PCFG) started filing its report for previous financial years it became clear that the company is really putting some effort in order to be upgraded on the market.
On June 27, PCFG filed its 10-K for 2009 and later on another five reports followed. On this date, the price of PCFG shares started to increase right from the established support at $0.03.
One month later, PCFG stock reached $0.074 per share which is more than 100% increase in the share value. In fact PCFG got officially upgraded last week on June 20 and now the company is quoted on the OTCBB market tier.
On the day of the upgrade, PCFG scored one of its highest jumps in terms of share price. On that day, the stock surged 25% on a volume of 6 million shares. [BANNER]
Yesterday, trading volume was also high as nearly 10 million shares changed hands while the share price increased by 18%.
At present all of the major trending indicators are in a bullish configuration. This includes the MACD and the short term moving averages. However, after such a long a significant climb, market participants should get vigilant for signs of exhaustion especially if the volume tampers off and negative divergences occur between technical indicators and PCFG stock price movement.
