On Wednesday, the OPTEC International Inc (OTCMKTS:OPTI) stock was trading within a range and considering the fact that there has been no news about the company in many weeks, it was perhaps not surprising.
Trading Data
On Wednesday, OPTI stock moved up 2.56% to $0.0120 with more than 44.62 million, compared to its average volume of 20.56 million shares. The stock has moved within a range of $0.0108 – 0.0123 after opening trade at $0.0112.
Recent News
However, at the same time, it needs to be kept in mind that stocks which trade in a range can also break out strongly eventually and that is one reason why investors could do well to take a look at a development regarding OPTEC last month. Back on October 18, the company’s fully owned subsidiary company WeShield, had been notified about a complaint that had been submitted by OPTEC at the United States District Court for the Southern District of New York.
In response to the complaint filed by its parent company, WeShield noted that the allegations that had been made in the complaint were without any merit. The OPTEC subsidiary also announced that the allegations were going to responded to in court. The complaint seems to have suggested that the merger between the two parties had not actually taken place. However, that runs contrary to the announcements that had been made by OPTEC in the past with regards to WeShield.
Technical Data
OPTI stock is trading below the 20-Day and 50-Day Moving averages of $0.0147 and $0.0229 respectively. However, the stock is below above the 200-Day moving average of $0.0853. The stock is down 76% in the past 3-month.
