AlumiFuel Power Corporation (OTC:AFPW) managed to switch off the downtrend at least for a while on Wednesday last week with the help of a released shareholder report. Even though the update didn’t provide any news and instead was a general overview of the company’s activities, the market reacted in full force to the act.On Wednesday, AFPW generated 5.4 million shares as dollar volume and surged 30% to $0.0039. The exhalation, however, was but a short-lived one because in the days that followed AFPW dropped down again.
In the last session, AFPW finished 8% down at $0.0035 after starting the session even lower at $0.0032.
At present, the short-term moving averages are in a bearish mood, but the distance between the two lines is shortening, so investors will have to observe if a cross will form or he 4-MA will bounce back down in the coming days. [BANNER]
The MACD lines have converged since last week and thus no specific clue can be received from this indicator.
On the whole, there are not enough signals from technical indicators to estimate the direction of AFPW stock in the coming days. Nevertheless, this doesn’t stop those who believe in the company’s unmanned undersea vehicles, man-portable hydrogen generation, or the portable balloon inflation system to support it stock.
