Augme Technologies Inc (OTC:AUGT) has dropped sharply down this month and has just hit a 52-week low.
Three times in a row, AUGT tested the support at $1.6 and on the last session it bounced to $1.71. The price jump of 6.88% was achieved on a volume of 172 thousand shares, which is lower than the daily average.
The short volume generated on the last session had reached 35 thousand shares by the end of the day as shown by the FINRA statistics. The ratio short volume/total volume for the day was 1:5, which indicates a relatively low short activity.
Two days ago, it was announced that Kikkoman had selected a platform to launch a holiday-themed marketing 
campaign to promote Kikkoman’s soy sauce. The market didn’t show a strong reaction to the announcement.
From a technical point of view, the MACD has just taken a neutral direction which might have made market investors wonder whether this will mark a change in the stock’s downtrend. At this stage, there are not enough technical signals to outline what steps AUGT stock will take next.
