On The Verge Of A Big Breakout? Viaderma Inc (OTCMKTS:VDRM)

Viaderma Inc (OTCMKTS:VDRM) continued to move higher for the second consecutive session on Friday and recorded a triple-digits rally for the week.

Market Action

VDRM stock surged over 48% to close at $0.305 and for the week went soared about 100.50%. More than 103.38 million shares traded hands for the session, well above its 30-day average volume of 29.83 million shares. The stock opened at $0.0219 and moved within a range of $0.0200-$00320 on Friday.

VDRM Issued News This Week

Earlier this week, Viaderma released news. Here are the key highlights:

ViaDerma, Inc. Nearing Initial Order from Large Hospital Network

• VDRM announced they are nearing the end of their discussions with a major healthcare network to finalize an initial order for the Company’s wound care product, Vitastem.
• The healthcare network completed successful testing of the product late last year and has approved the product for purchase.
• Once the initial purchase order is complete, Vitastem is expected to be incorporated into hundreds of hospitals, nursing homes and hospices with the network.
• The Company is also in the process of entering into an additional licensing agreement with another party interested in licensing ViaDerma products. More information will be released on the new licensing agreement soon.
• The current licensing agreement entered into earlier this year is expected to expand by at least two more states by the end of this month, increasing the new total number of states to eight. Under the agreement ViaDerma receives $5000 per month for each state.

Trader Notes

VDRM is trading well above its 50-day and 200-day moving average of $0.0170 and $0.0083 respectively. The stock has jumped 1425% so far this year. The stock has an RSI of 81.82, signaling an overbought zone.

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