This week, market speculators may have noticed the momentum of Double Crown Resources Inc (OTC:DDCC).
The stock’s volume has been rising since Tuesday, followed by the share price. On Tuesday, DDCC rose 25% on a volume of 500 thousand shares, which was two times higher than the daily average.
The next day, the trading volume increased to 1 million shares and yesterday it exploded when more than 3.4 million shares changed hands during the day.
The last trading session was also marked by a serious increase in the share price. The value of DDCC stock short up 56% to $0.039 after hitting an intraday high at $0.042.
The stock’s climb has been supported by the MACD indicator which gave several bullish signals three weeks ago.
First, the MACD formed a bullish cross with its moving average. Second, a couple of days later it crossed the zero line, showing an increase in buyers’ strength. In addition, the histogram started rising, which was another bullish signal emitted by this indicator.
On Tuesday, the company filed and 8-K regarding an unregistered sale of securities. The document stated that the company’s board had authorized the issuance of 7.8 million unregistered shares of its restricted common stock to several consultants at $0.005 per share.
Apparently, this news didn’t disturb investors and DDCC continued to climb after the filing of the document.
