Over the last trading session RMS Systems, Inc. (CVE:RMS) (PINK:RMSSF) confirmed that the stock price is not eager to fall further.
The trading volume was minuscule 7 thousand, while the price ended up with a 14.5% decrease from the previous session. What’s interesting is that the day before the stock price rose 22.2%, so bulls still prevailed considering the fall was smaller.
The trading volume topped 2 million on Wednesday and was nearly 20 times the average 125 thousand. RMS price currently swings around 45 cents per share and white candles prevail. The Rally from yesterday generated a 32.5% gain, but none of that was left this morning.
The random fluctuation in price was slightly larger than the usual volatility of the stock, but close enough to account for it as random noise. The stock has shown such behavior in the past, so it’s not too disturbing during consolidation as well.
RMS will likely continue with price consolidation for the time being as there isn’t much it can rely on to guide the price without any news out. One more factor limiting the bullish runs is that the company currently holds a market cap of $19.7 million, which is significantly higher that the net book value of $8.2 million and theoretically favors bears.
