IC Places Inc (PINK:ICPA) started to rise a couple of days ago when a couple of technical indicators made bullish formations. At the same time, ICPA stock became a target of promotions which started yesterday, according to Hotstocked database.
The promotion was initiated by Wise Alerts, who has already promoted more than 90 stocks this year. The database statistics also indicates that the promoter generates $630 thousand average volume and 7% average intraday high. In the case of ICPA promotion, Wise Alert disclosed that it was compensated $5 thousand for a one day program by a third party.
In the last couple of sessions the stock surged above the daily average volume and the share price reached $0,08. Therefore, the promotion of ICPA will have the tough task to push the stock to even higher grounds today. [BANNER]
At the end of last week, MACD made a bullish cross after which the histograms turned up. A bullish cross occurred with the short-term moving averages as well. Thus, general positive sentiment was formed on the market that can explain the stock surge at the end of the week. On the other hand, ICPA had entered the oversold area, which is worth to take notice of given that the stock is not in a very strong trend at present as indicated by the ADX index.
For now, the focus of investors will most probably turn to the stock promotion and its ability to add more spark to ICPA. Whether this will happen or not, only the coming session will reveal.
