TGI Solar Power Group (PINK:TSPG) found a support at $0.001 since mid July. The company has been successfully keeping this level for a couple of weeks now which may hint that a consolidation phase is forming.
TSGP has fallen sharply in June and perhaps that is the reason which can explain the unusual short volume activity yesterday.
On the last session TSGP rose 20% to $0.002 on a volume 1.8 million shares. Surprisingly enough, 1.6 million of these shares comprised the short volume for the day as indicated by FINRA.
Apparently, the short volume being 90% of the total number of traded shares on one hand, and the rising share price on the other, suggest that the shorters were closing positions on a massive scale. [BANNER]
After the end of the session, a promotional campaign on the company was detected. A couple of promoting sites led by Garden State Resources have received $75 thousand for the campaign on TSPG.
If the campaign manages to bring more awareness to TSPG stock, more intensive trade can be expected. However, TSPG was promotion not so long ago, so the effect of the current promotion might get negated by the previous one.
