LONDON, June 4, 2014 /PRNewswire/ --
Trading in the small cap markets over the summer in be a volatile time and the close yesterday was no exception. Today we focus on a group of stocks trading within the OTC that were substantially higher but may have pulled back intra-day due to profit taking from traders therefore making a cheaper price entry point.
Infinex Ventures (OTC: INFX) had a volatile days trading yesterday with a big swing intraday and a gap up on the open. There is sure to be volume coming into shares of Infinex today with a high of $0.05 being hit in the markets ahead of the open today. The big move came on the back of news that the company has attained marijuana funding and plans to move into that space. We have seen what can happen to these penny stocks in the short term and even though many have not reached the high point the group reached in March they are still a very attractive trade for many investors.
Abakan (OTC: ABKI) had a fairly flat days trading to close yesterday ahead of the market open on the OTCQB today however there is a big gap in this stock that traders will be hoping gets filled on a technical basis. The yearly high of $3.20 seems quite some distance after a closing price of $1.48 but if traders push shares of Abakan through the $2.00 level then a higher stock price is a strong possibility. The company also announced on June 2nd that they have increased ownership in subsidiary MesoCoat to 87.5%.
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Easton Pharmaceuticals (OTC: EAPH) closed right at the high of the day for tits stock price just about in the green as traders will be looking for the next level of resistance in today's trading session. The key level the name needs to get through is $0.028 and if we see a close above that price that would be a big positive for the stock. The closing of a medical marijuana agreement with MDRM Group (OTC: MDRM) should help this stock gaining more attention with traders and could also help attain a higher stock price.
MyECheck (OTC: MYEC) closed slightly lower before the market open today after coming off a strong run trading the last couple of sessions where shares bounced off the recent low to be trading right around the $0.04 level. The company whose stock hit a recent high back at the end of March is looking to get back to that level which is around an 80% move to the upside. MyECheck announced a new VP of sales recently and the stock looks to have turned a corner trading off the bottom.
MRI Interventions (OTC: MRIC) had a very tight trading range yesterday of just around $0.05 and with the stock closing at a recent low of $0.81 it could be a cheap entry point into the stock for a short term trade. MRI Interventions had a positive quarter at the beginning of May and with the yearly high more than double the distance of yesterday's closing price this could be one to keep an eye on.
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SOURCE AMG Global Advisors Ltd