American Graphite Technologies Inc (OTCBB:AGIN) Continues to Fall Under Pressure
The high interest in the stock of American Graphite Technologies Inc (OTCBB:AGIN) seems to be working badly for them as they are continuing to slide down the charts with even more momentum.
The pump that AGIN had last month is turning the price of their stock in a wrong direction as it has been heading South in the last 4 trading sessions. AGIN‘s stock fell a total of 26% after the pump, starting the downfall of their stock’s price in the June 26 trade session when it lost 8%.
Yesterday’s session didn’t differ much as AGIN continued gathering momentum in a downward direction dropping a further 10% on decent volume. The price of AGIN‘s stock went from $0.4825 to $0.427 with a volume nearly 3 times their average of 392 thousand shares. A total of 1.1 million shares switched hands in yesterday’s session making the trade value for the day come at $487 thousand.
When the heavy dumping took place in the beginning of yesterday’s trade session, the price dropped quickly and it was at $0.422 by noon. The stock continued to move in an almost straight line until the final trade with the lowest price of $0.410 being left in the early post-dump hours right before noon.
Unlike Affymax, Inc. (OTCMKTS:AFFY), American Graphite Technologies broke their almost straight line in the monthly charts with the recent big drops. It seems that either some of the insiders are sensing a bad future for the company or the investors are fed up of waiting for some actual progress. It might even be both. The fact is that AGIN‘s price is going down and the only thing that can liven things up is some good definitive news or in the worst case a pump.
Either way AGIN remains a risky stock to invest in. Some of the more experienced traders might take advantage of this low in their price and get their hands on cheap shares with the intent of selling them in a paid promotion uprise of the stock’s price, however, be sure to do your due diligence and weigh out all the risks before jumping on AGIN‘s train.
Another company that had a bad session yesterday is Cleantech Transit Inc (OTCMKTS:CLNO), whose stock had a very good run since the end of June, but isn’t doing very well in the last two trading sessions. Their price per share dropped a further 15% yesterday, continues to go down since today’s market open and is now at $0.22. This might just be another low that they are heaving as these are not the only trade sessions they have had, ending in the red while reaching for the top.
