Yesterday, Suggestion Box Inc. (PINK:SGTB) suddenly surged up in both volume and share price. The generated volume went over 100 thousand shares, which is ten times higher than the daily average. In the meantime, SGTB stock surged 17% to $0.76 after hitting a daily high at $0.85.
In fact, at $0.85 the stock tested one of the established resistances, but didn’t have the power to overcome it. Nevertheless, in the last two days SGTB did find enough power to finish above the short-term moving averages, which can additionally attract more buyers for a short while.
SGTB is a limited information pink sheet company, which makes it difficult to grasp the true reasons behind the stock chart. However, it appears that the upward march of the stock was caused by the press release that was published last Monday. [BANNER]
Then, the company announced that its subsidiary NCAP Security Systems had launched a new website and a product called MaskMail.com. Apparently, the excitement of the news was felt with a delay as SGTB was not traded in the next three days and the buying pressure became apparent only when the trade resumed last Friday.
As a result of the last two trading sessions, the MACD indicator formed a bullish cross and the histogram began to rise. However, due to the nature of SGTB depicted by its limited information status, the trading sessions might unfold in an most unexpected and unexplainable manner. So, still investors and speculators need to measure their risk tolerance before joining the trade of SGTB.
