QS Energy Inc (OTCMKTS:QSEP) Stock Pulls Back After The Recent Rally
QS Energy Inc (OTCMKTS:QSEP) stock ended lower in the previous trading. However, the stock is still up over 12% over the past week.
Market Action
In the previous trading session, QSEP stock ended lower by 12.13% to $0.0325. A total of 217K shares traded for the session hands, above its average volume of 203K shares. The stock opened at $0.0350 and moved in a range of $0.0310 – 0.0350.
Key Trigger
QS Energy Provides AOT Testing Update
QS Energy Inc provided an update to our press release of September 27, 2021.
Cecil Bond Kyte, Chief Executive Officer and Chairman of the Board, commented, “From May 2021 to present we have conducted many tests designed to isolate components and variables on the grid pack and we have found locations where arcing occurred unexpectedly. In this investor update we will share some of our key findings. Furthermore, we plan to implement and test some of these design changes in the coming weeks.”
Dr. Christopher Gallagher explained, “The inability to achieve treatment field strength has been a recurring theme through the demonstration project, where we were under contract to provide services to our partner, which ended in June of 2020. While at the demonstration site, all components were concealed in the AOT and the inconsistency of results made it very difficult to positively diagnose problems and implement solutions. Now, isolating components and parameters has allowed us to identify and replicate arcing events while observing where they occurred. Knowing these points will give us an opportunity to improve the design of the current AOT.”
Trader Notes:
QSEP stock has outperformed recently with a jump of over 35% over the past 6-month. On the technical basis, the stock is trading below its 50-day of $0.0378. Moreover, RSI at 49 signals that the stock is trading near the neutral zone.
