This past Thursday there may not have been any news about Powerbridge Technologies Co Ltd (NASDAQ:PBTS) but the company’s stock went through a rally nonetheless and ended the day with gains of as much as 8%. In this context, it may be a good idea for investors to take a look at a development from back on March 30.
Trading Data
On Thursday, PBTS stock gained 8% to $0.3413 with more than 37.23 million shares, compared to its average volume of 2.67 million shares. The stock moved within a range of $0.3413 – 0.4197 after opening trading at $0.40.
Recent News
The technology solutions company that works across a range of industries announced at the time that its Powerbridge Smart Monitoring Platform had actually been selected as the prime choice of procurement for a range entities by the Zhuhai City Science and Technology Innovation Bureau.
It was a major development for the company since it could open up a major market for Powerbridge, however, it is also true that it is unlikely that the latest rally was related to that. It may be a good idea now for investors to consider adding the Powerbridge stock in their watch lists and watch for fresh developments with a hawkish eye. It will be interesting to see if the stock can actually continue to hold on to its momentum and add to its gains over the coming days.
Technical Data
PBTS stock is trading below the 20-Day and 50-Day Moving averages of $0.35 and $0.37 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.94.
