Allezoe Medical Holdings, Inc. (OTC:ALZM) finished the last trading session with a three-digit increase in its share price and the heaviest trading volume ever. No news has come out, only the shorting activity has been high over the past week. 
ALZM closed at $0.0388 yesterday, which is a 228.81% gain from the previous close. ALZM could not break the $0.05 resistance which was set at the beginning of November although the trading volume was the highest in the stock’s trading history. Over 27.9 million shares were traded during the session and the RSI reversed from the oversold area and crossed the centerline.
The chart configuration looks very positive, though ALZM latest news came out at the end of September when the company announced the launch of its new subsidiary SureScreen Medical, Inc. which was supposed to be responsible for conducting the trials and the federal clearance for ALZM HPV diagnostic technology.
The company will also file its latest financial results for the fiscal year ended August 31, 2011 with a delay as a notification of late filing was field to the SEC at the end of last month. Thus, it looks like that delay has been used for some speculations again which could have caused that sharp move of the share price.
On Monday and Tuesday last week, about 30% of the total trading volume consisted of short sales, while that percentage reached 55% on Wednesday and over 33% on Friday.
