Viropro, Inc. (PINK:VPRO) surged 15% on heavy volume two days ago. The generated volume hit 2.1 million shares, which is slightly above the average. Yesterday, VPRO shares closed at $0.063 after reaching a daily high of $0.068.
It seems that after the last announcement the stock is trying to test its previous high at $0.085. However, in order to see if the company has a technical potential to reach this level, the Fibonachi waves can be used by traders.
On Tuesday, VPRO issued a press release proclaiming that its subsidiary Biologics Process Development Inc. would double the size of its existing bioprocess and scale-up the laboratory in California. The reaction of the market came the next day when the stock climbed 2% on the news.
VPRO is a public corporation which 
offers contractual research and manufacturing services to the bio-pharmaceutical industry through cell line and process development. Its subsidiary Biologics Process Development Inc. specializes in molecular biology, recombinant protein expression, cell culture, bacterial fermentation, protein separation and purification, and frozen cell storage.
Unfortunately, VPRO is included in the limited information category of the pink sheets market segment. This fact can repel many risk intolerant traders as it is usually translated as increased chance for stock machinations at the expense of innocent investors.
Typically for this status, the company hasn’t filed any financial report recently and thus it is impossible to estimate the company’s viability to carry out its plans and operations. Therefore, those who still would dare embark in the dark land of VPRO will have to rely more on intuition and chart formations rather than on fundamental analysis.
