Protocall Technologies Inc (OTCMKTS:PCLI) Stock Sees Selling Pressure At Higher Level
Investors are going to realise their profits in a stock at some point and hence, profit booking can often come as a major factor behind the fall in a stock price.
Market Stats
On Monday, PCLI stock decreased 14% at $0.0043 with more than 3.97 million shares, compared to its average volume of 8.32 million shares. The stock has moved within a range of $0.0039 – 0.0054 after opening the trade at $0.0050.
Completes Acquisition of JR Development LLC
That is what happened to the Protocall Technologies Inc (OTCMKTS:PCLI) stock on Monday as it fell by as much as 14% as a result of investors deciding to cash in on their profits. However, at the same time, it is important for investors to keep in mind that despite the sharp correction, the Protocall stock is still up by as much as 30% over the course of the past week.
There was no news about the company yesterday but last Friday the company had announced that it had been successful in completing the 100% acquisition of JR Development LLC. JR Development is a real estate development firm that is based out of Idaho and following the acquisition it is going to operate as a fully owned subsidiary company of Protocall.
It is a significant acquisition from the company and could help Protocall in making a strong move into the real estate development space. At this point, it remains to be seen if investors move into the stock again today after the fall on Monday.
Key Quote
CEO Paul Knudson stated, “PCLI is creating a vertically integrated real estate company. With the acquisition of JR Development LLC, PCLI is positioned to profit from the change of value created by its residential and commercial land developments.”
Traders Corner
PCLI stock is trading below the 20-Day and 50-Day Moving averages of $0.0044 and $1.00.00484 respectively. However, the stock is trading above the 20-Day moving average of $0.0037. The stock is up 27% in the past week.
