The last two sessions of Avix Technologies, Inc. (PINK:AVIX) were relatively weak in terms of generated volume. The company’s shares traded in the last two days did not exceed the daily average volume.
Nevertheless, this low activity may disappear in the next couple of sessions because yesterday it became clear that a promotion of the company has started. After the end of the last session, a newsletter from Penny Stock Rumors was disseminated on the Internet.
The promoter revealed a compensation of $3 thousand, but didn’t reveal the paying party.
On Monday, the company announced it had extended a letter of intent to acquire 100% of Actus interactive Software. The same day, the stock crashed down 10% on a volume of 420 thousand shares, which is six times higher than the daily average.
It appears that certain parties used the announcement to dump their shares on the market. It must be reminded that AVIX is a limited information company which facilitates any machinations with its stock.
Since the company published its financial report last week, its stock broke two important resistances – first, it breached the 50-MA and then it broke through an important resistance at $0.125. However, it appears that certain selling intentions were activated when AVIX peaked at $0.2.
This brought the price back at $0.185 and meanwhile the trading volume diminished. Had it not been for the limited information nature of the company, one would find it easier to make suggestions about the next move of the company.
However, there is a promotion at hand and in addition it appears that some selling pressure has been activated in the last days. This means that AVIX can push in any direction in the near future, which is in unison with AVIX’s limited status.
