Pervasip Corp. (PINK:PVSP) has been rallying in the last couple of days after it plunged down in the last half of the month. In fact, this month the stock has been oscillating between two concrete price levels.
The first one is the level at $0.02, which acted as a support for a short while before the plunge. After the last couple of sessions PVSP is getting nearer to this level again. The second level is at $0.01, which is a psychological barrier delineating the area of sub-penny stocks.
PVSP managed to bounce off at this area last week without the help of any press releases or promotions. [BANNER]
The helping hand for PVSP stock was provided yesterday when a promotional campaign on the company was detected. Yesterday, just at the opening bell, a promoter called 007 Stock Chat issued an eulogistic newsletter on PVSP.
The promoter had been compensated $2,500 by an unknown third party.
However, PVPS will have to prove itself to the resistance at $0.02 without the help of advertising campaigns. Market participants will have to watch how the stock will behave both at this resistance and the lying near 50-MA.
