After Green Technology Solutions Inc (PINK:GTSO) went through another streak of very heavy trading, the stock is once again in still waters with trading volume below the daily average. The stock price has also stepped in a narrow trading range.
After the stock crashed down severely at the beginning of the month, it tried to regain some value in the following weeks, but once again a serious selling pressure occurred in the last days and pushed the stock back to the previous lows.
Yesterday, the session went without any significant emotion. Not only was the trading activity lower than usual, but there was no change in the stock’s price as well. Still, there was enough intraday fluctuation to satisfy the day traders.
Yesterday, GTSO announced another profit participation agreement for a new mineral property in Mongolia. According to the agreement, GTSO and its partner Beijing Bullion Transfer Group are to facilitate mining development at the new site in exchange for a percentage of the mine’s net profit.
However, for now it seems that profits are too ephemeral for investors, who seem resistant to the news torrent which comes form the company. [BANNER]
The technical configuration is a little bit confusing in the case of GTSO. For example, the two major trending indicators, the MACD and the moving averages, are giving mixed signals. While the short-term moving averages have recently formed a bearish cross, the MACD indicator has just recently taken a bullish stance.
This makes it a little bit hard to make any suggestions about the short-term future move of the stock. One thing is obvious though, there is an outlining tendency for investors to get more and more resistant to the positive news coming from the company. Most likely the problem is coming from the off-shore nature of GTSO operations.
