Peter Hristov

Viropro, Inc. (PINK:VPRO) Makes a Huge Trading Amplitude

by Peter Hristov July 1, 2011
8VPRO_chart.pngYesterday, the session of Viropro, Inc. (PINK:VPRO, VPRO message board) was marked by a huge trading amplitude, visible on the long body of the candlestick on the chart. Within the trading day, VPRO touched an intraday low of $0.035 and an intraday high of $0.06, which represents a 70% range.

This conspicuous stock movement happened on a volume of 1.4 million shares, which is more than 3 times higher than the daily average. However, the information that came from FINRA at the end of the day was that 880 thousand shares were part of the shorting volume, representing more than 60% of the total volume generated yesterday.

There has been no news from the company for nearly a month, so the stock action was most likely due to technical signals, if we exclude the probability of insider activity.

3VPRO_chart.jpgFrom a technical point of view, two days ago both the MACD and the short term moving averages formed bullish crosses, which could have stimulated more day-traders to turn their gaze to VPRO stock. In addition, the intraday chart of the last session shows that the buyers took a convincing dominion over the trade, which may spark additional interest in the stock.

However, the fact that the company hasn't issued anything recently, while at the same time the stock started to move conspicuously, can be very disturbing, especially for the less risk tolerant investors. And because there is no smoke without fire, it is still not very clear where the fire of VPRO is.

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