Yippy Inc (PINK:YIPI) has been steadily climbing up since the beginning of July. The company has bounced from the support at $0.06 and in the course of several weeks it reached $1.01 per share.
On the last trading session YIPI slid down 1.94% on a volume of 23 thousand shares which is below the daily average. In fact, the whole up-move of the stock was based on a relatively low volume activity.
Apparently, the promoters who covered the stock last week were not satisfied with the generated volume so they are going to repeat the campaign today. This time, the promotional newsletter came from an entity called Micro Stock Profit and the compensation is $40 thousand, the same as the last week’s promotion.[BANNER]
Technical indicators such as the MACD and the simple moving averages are currently in bullish position. YIPI graph is also moving above the 50-MA which also a stimulation for buyers. However, there is some concern about the low volume which has reigned the company since the huge spike in may.
On the whole, if the company resist the effect of the promotion today and keeps the low trading activity, investors will have enough reasons to doubt if YIPI will be able to maintain the critical $1 level.