Yesterday the share price of Medical Care Technologies Inc. (OTC:MDCE) suddenly surged up to cross the 50-day moving average. Though, no fundamental improvement within the company has been announced in order to be associated with that share price increase. 
MDCE broke the $0.003 resistance level and then closed the session at the 50-day moving average at $0.0021 for a share, which is a gain of over 90% from the previous close. At the same time, the trading volume was nearly 122 million shares – the highest for MDCE at least for the last three years.
A moving average cross is usually a strong bullish signal and other technical indicators such as RSI and MACD are also bullish to signal trend reversal. Yet, one should consider that MDCE has not issued any news since Jan 23, 2012 when the company announced the closing of a $130,000 loan agreement. The same day, the stock got also a $5,000 stock promotion and the share price crossed the 50-day MA again.
Medical Care Technologies will have to announce really good news to reverse the downtrend of its share price. Latest financial reports show no revenue whatsoever and $303,000 in total assets. At the same time, its current liabilities amount $447,000, which makes it questionable if the new loan could actually be used in full for the construction of the company’s children’s health and wellness center as claimed in the last press release from end-January.
