This week on the OTC, a large number of new to penny stocks traders got a taste of how good Chuck Hughes’ endorsement of Echo Automotive Inc. (OTC:ECAU). Called by us as a “sell” prior to the opening bell on January 29, the day when ECAU stock peaked at $3.61 for maximum gains of 387% since we initiated coverage at $0.74 on January 3, Friday provided the bounce entry some traders were looking for to get back in to those missed gains. What can be expected from here is to see a return to near or slightly above the $2 range before it fizzles to under $1, especially if the only news the Company can issue echoes old news from a few weeks ago.
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ECAU Stock Chart
Market Cap: 115.50M
Last: 1.54 ▲ 0.17 (12.41%)
Dollar Volume: $6,997,840
14-Day Rel Strength: 53.87%
14-Day Stochastic: 24.18%
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The half million dollar emailer and copies of the hard mailer on Echo Automotive made their way into the message boards, chat rooms and inboxes of traders playing ECAU stock this past week. Highlights of the report (see here) point to the Company having the technology that FedEx Corporation (NYSE: FDX) and United Parcel Service, Inc. (NYSE: UPS), to name a few, have been scrambling after for a decade.
Unfortunately, the gravitational pull of short sellers of ECAU stock was much stronger on January 30 and 31 than was the $500,000 email campaign, as was evidenced here and here by one extremely influential trader doing their home run trot around the social media circle on Friday . “Explaining how I made $6,500 in 20 minutes on the pump $ECAU“ was more than enough than to have some semi-pornographic material to influence the teenagers wanting to start trading penny stocks to become new followers.
The emailer states: “If you received this report early enough, you can load up on ECAU today at under $1.00… but don’t hesitate to load up on ECAU, even at $2.00.” Lucky enough for AimHighProfits VIP members and daily visitors, the opportunity was there to buy ECAU at $0.74 and a wise word of advise to sell it the day it peaked to $3.61. Now that the shake is over, it’s all about the bounce:
About ECAU Stock
Last 5 Trading Sessions:
Bottom Line: For those fortunate enough to have seen our “sell” report on the 29th for ECAU, the loss incurred from the savage short seller attack / dump didn’t hurt so much. For those who held on to the penny stock, you could see ECAU stock break $2 next week if, and only if, all the stars align in formation. The likelihood of returning to the $3 level is as probable as a contract announcement from one of the large scale fleet providers mentioned above throwing more start-up cash at the prototype holders.
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