In recent times Asia Broadband Inc (OTCMKTS:AABB) has made a big move into the crypto space with its gold backed AABBG token and this past week, the company made another key announcement.
The company announced last week that it is looking to expand the presence of its AABBG token by way of a plan to create demand for it in El Salvador. It is a significant development but it did not prove to be a big boost for the Asia Broadband stock, which went down by as much as 16%.
The company is planning to create demand for the token by tying up with some of the major retailers in El Salvador, who are going to accept payments in AABBG. The initiative is going to offer considerable commissions and discounts to the retailers who are going to sign up to the program. While the Asia Broadband stock may have declined this past week, investors could still consider adding it to their watch lists.
Market Reaction:
On Friday, RSHN stock moved down by 4.34% to $0.1322 with more than 26.30 million shares, compared to its average volume of 36.66 million shares. The stock has moved within a range of $0.1300 – 0.1390 after opening the trade at $0.1374. Over the past 52-week, the stock has been trading within a range of $0.0021 – 0.6447.
Moving Averages
| +/- EMA(20) | 0.16 (-18.75%) |
| +/- SMA(50) | 0.18 (-27.78%) |
| +/- SMA(200) | 0.10 (+30.00%) |
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 0.1195 | 0.1247 | 0.1285 | 0.1337 | 0.1375 | 0.1427 | 0.1465 |
| Fibonacci | 0.1247 | 0.1282 | 0.1303 | 0.1337 | 0.1372 | 0.1393 | 0.1427 |
| Camarilla | 0.1297 | 0.1306 | 0.1314 | 0.1337 | 0.1330 | 0.1339 | 0.1347 |
| Woodie | 0.1239 | 0.1269 | 0.1329 | 0.1359 | 0.1419 | 0.1450 | 0.1509 |
| DeMark | – | – | 0.1266 | 0.1337 | 0.1356 | – | – |
 Stock Continues to See Selling Pressure: What Next?){kind=link}