Some traders probably decided yesterday that SCRA chart looks really bullish. After the share price had hit the $0.08 yearly bottom in October, yesterday it hit also the previous support at $0.09, for the second time in row. Hitting the bottom so many times might actually look like a strong reversal signal, suggesting that SCRA long-term depreciation might finally be over.
Thus, the share price surged towards the end of the day and then closed the market at $0.105, representing an 8.14% jump from the previous close. Over 3.63 million shares were traded in total, more than 14 times the average value, and some other technical indicators for SCRA stock got also improved on the sudden action.
The second quarter financial results of the company do not suggest that SecureAlert’s stock has upside potential from a fundamental point of view, but the latest press release that came out three weeks ago and got no reaction could have finally received recognition yesterday.
Further “positive” news concern the previously announced shares resale of some stockholders of the company. At the beginning of the month, an amendment to the filed in September registration statement for securities was submitted to the SEC. The initially announced number of shares that should be issued upon conversion of preferred stock and may get offered for resale by the selling stockholders has been reduced from 166.6 million to 158.4 million.
