HOTM

HOTM Trying to Recover

 
Following a sharp fall in the month of $June, shares of HOTCLOUD MOBILE (OTC:HOTM) has been moving higher over the past one week and on Tuesday, the stock closed higher for the fourth consecutive days.
 
HOTM stock started its uptrend on Jul 14, 2011, from $0.36, which jumped to $0.49 on Tuesday before reaching about one month high of $0.54 in yesterday’s session. Moreover, we have noticing increasing volume in every new trading session in the past four trading session.
 
HOTM stock debut on OTC on May 16, 2011 and moved from $0.40 to $0.86 within a time span of 3-weeks, but however those rallies were driven by low volume.
 
However, volume started picking up on June 06, and in no time HOTCLOUD MOBILE (OTC:HOTM) stock set back and hammered down by over70% in another three-week despite heavy promotional activities. The company filed its first ever 10-Q in the third week of June and revealed that the company had no current assets with current liabilities exceeding $2 million without any sales as well as heavy losses.
 

HOTM Rebounding

 
On Jun 30, 2011, jumped about 22% as HOTM issued a press release stating that the company is working on developing a cloud-based platform to host proprietary content.
 
Then HOTM stock consolidated with a very narrow range until Jul 15, 2011. With the recent jump in prices without any significant development, investors or traders needs to be conscious as the stock does not reveal any impressive history in terms of price sustainability.
 
On the technical basis, HOTCLOUD MOBILE (OTC:HOTM) stock managed to crossed its 50-Day Moving Average and 200-Day Moving Average of $0.53 and $0.52 respectively, but couldn’t sustain above these.
 
 

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