The Metal Arts Company, Inc. (OTCMKTS:MTRT) gained a lot of momentum on Thursday as the stock saw a big rise in price along with massive volume. Moreover, the stock reached its new high in the intra-day session.
MTRT stock closed higher by a whopping 681% to $0.125. What is more interesting is that the stock had witnessed its highest one-day volume at least in the past year. Total volume for the session stood at 1.53 million shares, compared to its average volume of 53K shares. The stock had started the session with a gap up of 500% and picked up momentum in the first hour of trading as the stock went up as much as 1136% to hit the new high of $0.2299.
So what triggered such a big move? Well, there was no news and as we all know penny stocks often do need news to trigger a big move.
Metal Arts Inc., through its subsidiary, Coating Technology, Inc., engages in contract electroless and electroplated nickel, aluminum anodizing, and other surface coating and enhancement operations.
But, one should note that the company has not released any news since 2007, and one needs to be careful while trading momentum-driven penny stocks. The company had a market capitalization of 1.57 million (based on the closing price on June 17, 2021). Over the past year, the stock has been moving within a range of $0.0001 – 0.2299.
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | -0.0982 | -0.0116 | 0.0567 | 0.1433 | 0.2116 | 0.2982 | 0.3665 |
| Fibonacci | -0.0116 | 0.0476 | 0.0841 | 0.1433 | 0.2025 | 0.2390 | 0.2982 |
| Camarilla | 0.0824 | 0.0966 | 0.1108 | 0.1433 | 0.1392 | 0.1534 | 0.1676 |
| Woodie | -0.1323 | -0.0287 | 0.0226 | 0.1262 | 0.1775 | 0.2811 | 0.3324 |
| DeMark | – | – | 0.1000 | 0.1433 | 0.2549 | – | – |
 Hit New High Without Any News: Now What?){kind=link}