Peter Hristov

N I S Holdings Corp (PINK:NISC) Stirs the Market in the Last Moment

by Peter Hristov June 22, 2011
NISC_chart.pngAlthough yesterday N I S Holdings Corp (PINK:NISC, NISC message board) announced the signing of a financing agreement for $3 million, its stock finished the session $1% lower at $0.045.

However, some excitement was perceived on the afternoon intraday chart, when NISC soared to $0.08. The trading activity sharply increased after 3 pm and a total volume of 1.8 million shares was generated. This was a volume, six times higher than the 90-day average.

In fact, this was the only news issued by the company and met with such a significantly increased market activity. In detail, NISC said yesterday that it had signed an equity facility agreement with Global Stock Investments, based in London. According to the press release, the latter will provide $3 million as a working capital funding, which would suffice NISC for the next 12 months.

NISC_logo_.jpgHowever, it seems that apart from the attempt of NISC to boost up its stock by this announcement, there was a much more overwhelming factor on the market that suffocated the exaltation at the end of the session. At present, there are only suppositions about what this factor could be.

For now, technical indicators such as the MACD and the short-term averages support the downward pressure on the stock. At the same time, the 50-MA is currently positioned at $0.1, where the stock was one month ago. Many investors will be curious if NISC will find the power to test this level again.

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