Shares of International Consolidated Companies Inc. (OTCMKTS:INCC) closed higher Tuesday.
Market Action
INNC closed up 12% to .0028 adding .0003 in Tuesdays session. Volume was 340 million shares on 1023 trades about double its 30 day averages in both. Trading opened at .0025 and ranged between the low of .0023 and the high of .0031.
INCC Shareholder Update
International Consolidated Companies Inc. released a shareholder update Tuesday morning. Hightlights include:
INCC became OTC markets compliant.
INCC returned 394mm shares to treasury.
INCC reduced its Authorized Shares, by 1.9B, from 8.9B to 7B.
INCC added Thomas J. Megale, CPA to its Board of directors.
INCC issued 220,678,371 shares to TJ Megale and CJ Ornburg each respectively for their service on the Board of Directors. As of these two issuances there are now 7B shares issued and outstanding of INCC common stock. The Authorized has been capped at 7B.
April 30th INCC executed a definitive agreement to acquire Blue Plant Farms, LLC. Blue Plant Farms produces CBD hemp oil products under several brand names offering improved bioavailability through the Company’s proprietary water-soluble formulations.
Traders Notes
INCC has had a monster 2021 up from .0001 to a high of .005. So far dips have been buyable as the stock continues to follow an upward trendline.
Potential pivot points to keep an eye on are .0029, .0034 and .0042 above and .0021, .0018 and .0010 below. INCC is trading above its 5,10, and 20 MA but slightly below it’s 30 day MA.
Today was a strong up move off the rising trendline and could signal another move higher.
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