After generating increasing volume in several sessions, yesterday GelTech Solutions, Inc. (OTC:GLTC) made a significant breakout.
GLTC opened with a gap up and at the end of the day managed to close up 25.37% at $0.84. The volume was 118.5 thousand shares – high above the average of 30 thousand, but very much in line with the volume generation in the last sessions.
With the chart looking like it did, GLTC needed but a nudge. It came in the form of a press release. It was focused on the testimonial of a Chief Ben Steele, East Glacier VFD. It praises GLTC FireIce product.[BANNER]
While the press release worked fine yesterday, a positive financial report would do much more. Still, there is time until the report is due, so traders and shareholders will have to make do with press releases for the time being.
It will be interesting to see how GLTC does in the short-term with RSI heading for 70.
