Will HCMC Bounce After News?

Healthier Choices Management Corp. (OTCMKTS:HCMC) issued news after the close Monday. What will investors think and will the stock bounce Tuesday?

Market Action

Shares of HCMC closed lower Monday ending the session at .00165 down .00035 off 17% on the session. Volume was 5.6 billion shares on 14,123 trades. These numbers are slightly below the averages of the last few weeks. Trading opened the day at .002 which was the high of the day. .0016 was the low.

News Highlights

HCMC issued news just after Monday’s close. Here are a few highlights.

Healthier Choices Management Corp. (OTCMKTS: HCMC) today announced its financial results for the three-month period ended March 31, 2021.

Net sales from operations amounted to approximately $3.5 million, down 14% from the same period last year.

Total operating expense was approximately $2.0 million for the three months ended March 31, 2021; a decrease of 15%.

Net loss from operations was approximately $696,000; a 1% decline from the prior year.

Trader Notes

Today was the 6th down day in a row for HCMC coming off the most recent high of .0035.

Potential pivot points to watch are .002,.0022 and .0026 above and .0017, .0014 and .0010 below.

.0016 is the 76.4% Fibonacci retracement number for the run from .001 to .0035.

HCMC needs an up day to stop the recent slide and get things turned back around. I’m not sure if the numbers released today are enough to do it but put HCMC on your watchlist to see.

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