Peter Hristov

ValCom Inc (PINK:VLCO) Makes an Upward Curve

by Peter Hristov October 3, 2011
0VLCO_chart.pngValCom Inc (PINK:VLCO, VLCO message board) has been sliding gradually down since the end of August. However, last week VLCO made technical breakout so  that the price line made an upward curve after a sequence of price jumps.

VLCO started surging up on Sept 26 when a price jump of 26% happened within the frames of one trading sessions. On the following days, the trading volume joined the exaltation and surged to 1 million shares and above.

In the last session, the volume went over the daily average when more than 5 million shares were traded during the day. At the same time, VLCO jumped 11% and finished the week at $0.048.

On Sept 28, VLCO announced that it had finalized a deal to broadcast films from ValCom's library of video and audio content with a Los Angeles based IPTV provider. On that day the stock reacted with a 22% price jump and a generated volume of 1.2 million shares.

5VLCO_logo.jpgMeanwhile, the arguments about the last changes in the company's board of directors appear to have shifted to another level. An 8-K filed earlier in Sept. shows that Silvana Costa Manning, a member of VLCO's board of directors, had filed a complaint in the Court of Chancery of the State of Delaware in an action to invalidate the purported removal of three directors, viz. Silvana Costa Manning, Timothy Harrington, and Mike Vredegoor.

The argument started when a shareholder meeting voted for the removal of the three members of the Board. This issue apparently doesn't seem to obstacle the rallying process of VLCO after the slide down.

Thus, VLCO stock is once again at an important threshold, namely the 50-MA. The following sessions will reveal how VLCO will act at this technical point.

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