Laser EnergeticsS Inc (PINK:LNGT) has been climbing up this week with the support of a much higher than usual volume.
Throughout the whole week the trading volume of LNGT stock was above the 3-month daily average.
On Monday and Tuesday the market registered trading volumes of 815 thousand and 597 thousand LNGT shares respectively.
Yesterday the volume hit an even higher number of traded shares. At the closing bell more than 1.2 million shares of LNGT common stock were exchanged.
During the week the share price rose from $0.05 to $0.074 with three consecutive jumps of around 14%.
Two days ago LGNT broke an important resistance at $0.06 which could have spurred more investors into the trade explaining the huge volume on Wednesday.
Unfortunately, the momentum ride of LNGT seems very speculative at first glance as there has been no news, reports or promotions on the horizon for several months now to provoke such kind of surge.
In fact LNGT is marked with e red stop sign on the OTC Markets to reflect its limited information status. The OTC also warns that the company may not be making material information publicly available.
Thus, even though the stock's surge may be luring many market speculators, LNGT may not be suitable for the risk intolerant investors.
I have much experience with penny stocks or stocks below five dollars. I find stocks trading below a dollar to be much to risky in general.
ReplyDeleteThere's definitely a lid firmly on LNGT's price at $0.08. The "powers that be" will determine when (or if) that ceiling is cracked, and when it does, I'm pretty sure the full year of accumulation will give them plenty of fireworks. Just my $0.02.
ReplyDelete--Phil @ Trading Penny Stocks