Over the course of the past week the OPTEC International Inc (OTCMKTS:OPTI) stock has been in the middle of a strong selloff and ended up with a decline of as much as 10% as a consequence. When a stock goes through such a selloff it is often a good idea for investors to figure out if a recovery might be forthcoming.
Trading Data
On Monday, OPTI stock fell 0.14% to $0.0037 with more than 16.64 million shares, compared to its average Monday of 23.24 million shares. The stock moved within a range of $0.0035 – 0.0038 after opening trading at $0.0035.
OPTEC International Receives Increased Interest In The Company’s Fuel Maximizer Products Due To Record Breaking Global Fuel Price Increase
As it happens, OPTEC International actually made a fairly positive announcement yesterday. The company noted that its Fuel Maximizer Products have generated a major increase in the number of enquiries from both the corporate sector as well as the private sector.
The enquiries have apparently gone up due to the significant rise in the price of oil all over the world. OPTEC International also noted that it was also in talks with a number of international and United States based fleet operators. However, it is perhaps also necessary to point out at the same time that the talks are still at the early stages. Although the stock has declined sharply in the past week, it may still be a good move for investors to keep an eye on the OPTEC International stock.
Technical Data
OPTI stock is trading below the 20-Day and 50-Day Moving averages of $0.0046 and $0.0070 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0254.
