4/28/14 9:24 AM ET (PR NewsWire)
The
volume in the OTC markets was top heavy going into the end of last
week's trading as we enter the final trading week in April. Profit
taking was also evident as some stocks which were higher on Friday
morning finished the day in the red.
Bitcoin Shop (OTC: BTCS) had a good day's
trading to close the week higher on Friday by more than 30% on the
trading day. There is a good chance we will see follow through in this
week's trading as the stock closed very close to the highs of the day.
After trading at around $5.00 at the start of the year this stock has
been in free fall up to this point, but looks ready to make a charge
back possibly to resistance around the $2.00 level as trader's bottom
feed.
L&L Energy (OTC: LLEN) followed up on
its big up day of 47% by starting the day well and trading higher. We
did see some profit taking towards the end of the day with the stock
closing slightly lower by 8%. Overall shares in L&L Energy had a
good weeks trading with $2.5 million exchanging hands on Friday.
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Vape Holdings (OTC: VAPE) was another
company that had a volatile weeks trading with big up days and down
alike. The stock did hold up well to close the week only down by 17%
after doubling in trading on Thursday. The volume had increased over the
course of the week and was one of the heaviest traded stocks on the
board. We expect that volume to continue this week as traders look to
play the ranges on this one.
Creative Edge Nutrition (OTC: FITX) also
finished the week higher after a strong volume day on Friday trading
almost $3 million on the day. Shares closed higher by 9.9% and very
close to the highs of the day which leads us to believe we could see a
good follow through on the stock this week.
Genco Shipping and Trading (OTC: GNKOQ)
traded heavy volume to close the week on Friday higher by 2.75% on
around $6.5 million traded. After hitting a low back in March the stock
has been edging higher this last month, proving that you can turn a
trading profit even with a bankrupt company. We have seen the two best
examples of this over the last year with shares in Fannie Mae (OTC:
FNMA) and American Airlines (OTC: AAMRQ). Please note American Airlines
has now merged with US Airways.
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