The hump in the week allowed for enough drag and momentum building since the predicted mini-crash of Echo Automotive Inc. (OTC: ECAU) for shares to regain the top traded spot on the OTC Wednesday. Running on what looks like just two cylinders compared to before, share volume was just a fraction of what it was a week ago even after news that City of Indianapolis Mayor took a personal test drive of an EchoDrive™ equipped Ford E-250 hybrid demonstration vehicle. Novice traders are all asking “How high can ECAU stock go and for how long?”
Working technology and strong PR is a big benefit when it comes to penny stocks, but it isn’t one really needed when you’re website is registered at “1600 Pennsylvania Avenue” for some quick money in your pocket.
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ECAU Stock Chart
Market Cap: 156.00M
Last: 2.08 ▲ 0.16 (8.33%)
14-Day Rel Strength: 60.47%
14-Day Stochastic: 43.54%
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Last week we called the high and you can bet your bottom dollar, if it hasn’t happened by Friday, Echo Automotive’s ECAU will gap down at the open on Monday and never come close to seeing $2 again – at least that’s what we see.
The run at the beginning of January up until the 19th trading session provided gains of up to 387% from when we first saw ECAU stock as a buying opportunity. Just like last year with Stevia First Corp. (STVF), the shorts have attacked once, and they aren’t done since volume has been increasing each day this week and few are schooled in the art of “sell and take your profits.”
After reclaiming the top spot on the OTC stocks traded list on Wednesday now that the Marijuana stocks have lost their buzz, Thursday will be an important open for how ECAU reacts to all the exposure it has received now that the metaphoric cat is both out of the bag and hanging from the ceiling fan on high with its claws out:
Top 5 Penny Stocks Traded Wednesday
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About ECAU Stock
Echo Automotive, Inc. launched EchoDrive™ in late 2012, as a bolt-on easy-install system that converts existing fleet vehicles to electric assist, aimed at providing rapid return on investment through easily attainable cost-saving performance. Click here to view the SEC filings for ECAU.
Last 5 Trading Sessions:
Bottom Line: The time to cut the cord on ECAU is approaching quickly. Watch how the penny stock opens on Thursday and look for that switch from Dr. Money to Mr. Beggar to happen. With the king of penny stock trading making his followers also aware, ECAU stock is on the verge of seeing its last $2 level trade executed on it.
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