Stocks may often go on strong rallies even when there is no material news about the underlying companies and that is what happened with the Infrax Systems Inc (OTCMKTS:IFXY) stock last week. The stock was in considerable focus among investors and ended up with gains of as much as 15% for the week.
Trading Data
On Friday, IFXY stock ended flat at $0.0037 with more than 7.91 million shares, compared to its average volume of 14.46 million shares. The stock moved within a range of $0.0034 – 0.0040 after opening trade at $0.0037.
Major Trigger
Considering there is no news, it may be a good move to take a closer look at the company and its operations. The company is involved in providing electric power grid security, management and communication services that are needed for the smart electric power grid industry.
One of the more important products from Infrax is the Secure Intelligent Energy Platform that helps the utilities the possibility of communicating with those devices that may be connected to the power grid. It goes without saying that the company is an innovative one and is involved in an industry that could clock considerable growth in the years to come. At this point in time, it may be a good idea for investors to keep an eye on the news with regards to Infrax and then make their moves accordingly in the coming days.
Technical Data
IFXY stock is trading below the 20-Day and 50-Day Moving averages of $0.0034 and $0.0039 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0054.
