Emamba International Corp (PINK:EMBA) has been building volume since it started trading under its new name.
Over one million shares were traded in the last two sessions. The dollar volume equivalent of the share volume shows that EMBA can boast with a higher liquidity than it is typical for the penny stock market.
However, apart form the liquidity, the EMBA can also boast with high volatility as well. The stock chart shows huge swings in the share price in the last couple of days. In the last couple of days EMBA has been recovering from its decline from Wednesday last week.
Then, EMBA dropped down 40% on a volume of 2.5 million shares. In the following session, the stock recovered and at the close yesterday EMBA finished exactly where it started one week ago – at $0.4 per share. [BANNER]
The company has been maintaining the high trading activity without any announcements, reports or promotions. Last week, the company announced it had appointed a new president. The market reaction was negative as the stock went down the same day and continued to fall down in the following session.
At this stage, it is impossible to compile a credible technical overview of the company. The focus of short-term investors will probably fall to $0.4, where a possible resistance or support may form.
