Not too long ago Asia Broadband (OTCMKTS:AABB) had seen its stock going through a steep selloff but the situation got reversed on Wednesday. The stock was in considerable focus yesterday among investors and ended up with gains of as much as 41% amidst heavy action.
Trading Data
On Wednesday, AABB stock surged 41% to $0.1870 with more 145.43 million shares, compared to its average volume of 33.81 million shares. The stock has moved within a range of $0.1327 – 0.2200 after opening trade at $0.1356.
Key Trigger
In light of such handsome gains, it may be a good time for investors to possibly look into Asia Broadband a bit more closely. The company is primarily known for its precious metals mining business but in recent times it has made a strong move into the cryptocurrency industry as well.
Earlier on in the year, the company had announced that it was going to launch its own cryptocurrency exchange and on Wednesday, Asia Broadband finally made an announcement with regards to the date of the launch. The company announced that its crypto exchange is going to be launched later on this year on December 28, 2021 and that proved to be a major source of bullish sentiments about the Asia Broadband stock.
The crypto exchange is expected to offer a slew of advanced features and hence, the excitement among investors is perfectly understandable. Investors could do well to add the Asia Broadband stock to their watch lists.
Technical Data
AABB stock is trading in the neutral zone with RSI at 53. The stock has pivot supports at 0.0525, 0.0926, 0.1398 and resistances at 0.2271, 0.2672, 0.3144. The stock is up 65% in the past 3-month.
