Shares of KinerjaPay Corp (OTCMKTS: KPAY) are up big Tuesday on heavy volume.
Market Action
KPAY is on a run Tuesday. As of 1:10 the stock was trading at .0068 up .0022 gaining 209% on the session. Volume was 854 million shares on 4841 trades. The average daily volume for KPAY is 12.9 million shares. Trading opened Tuesday at .0022 and has ranged between .00215 and .009.
KPAY Releases News
KinerjaPay Corp released news pre market. The highlights include:
KinerjaPay Corp. Completed First Shipment of Coal to China.
Next shipments are starting. The company continues to expect revenues in excess of $100 million and profits of $12 million over the next 12 months.
KPAY estimated that the shipment of the first 53,400 MT steam coal to produce a minimum profit of US$170,000.
Mr. Edwin Ng, CEO of KinerjaPay Corp said “Despite the recent inclement weather we delivered our first shipment of coal. The demand for Indonesian coal in China is rising rapidly. We have signed on several other orders.
Trader Notes
Todays frenzy has blown all pivot points to pieces. Obviously KPAY is also trading well above all it’s major daily averages. Todays price and volume spikes will land KPAY on many watchlists of people looking for momentum plays. KPAY has held onto most of it’s gains so far today. This is a positive as it shows buyers are still around. KPAY has a high of .022 back in February and it is possible with todays strong news buyers could keep this rally going. Keep KPAY on your watchist to see what happenes.
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