Imperial Resources Inc. (OTC:IPRC) dropped down 1.52% to $0.335 in the last trading session. The declined happened on a higher than the daily average volume.
A total of 600 thousand shares were traded for the day. At the same time, FINRA shows that 257 thousand shares of the total volume were exchanged in short transactions which includes the opening and closing of short positions.
IPRC has been revolving around a support established at 0.35. The company managed to keep this level through most of September, but last week it went below the support line which has turned into a resistance at present. [BANNER]
On Tuesday, the company published an operations update on the OTC Markets bulletin 
board. The same day, however, the stock fell 6% on a volume of 100 thousand shares. The next couple of days, though, IPRC rallied and finished close to the mentioned support line.
The MACD indicator is moving in a neutral direction at present, which is in unison with the sideways movement of the stock. This may suggest that IPRC is likely to continue its sideways movement in the short run as well.
