GelStat Corp. (OTCMKTS:GSAC) was in special limelight on Thursday as the stock witnessed a huge rise in price along with massive volume.
GSAC stock closed higher by a whopping 208% to $0.185. 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 4.83 million shares, compared to its average volume of 229k shares. The stock had started the session with a big jump and picked up momentum in afternoon trading as the stock went up as much as 680% to the session high of $0.0469.
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.
One needs to be careful while trading momentum-driven penny stocks. The company had a market capitalization of $5.09 million (based on the closing price on July 19, 2021).
GelStat is engaged in research, development, marketing and branding of innovative over-the-counter (OTC) consumer healthcare products addressing very large markets.
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | -0.0370 | -0.0146 | 0.0020 | 0.0244 | 0.0410 | 0.0634 | 0.0800 |
| Fibonacci | -0.0146 | 0.0003 | 0.0095 | 0.0244 | 0.0393 | 0.0485 | 0.0634 |
| Camarilla | 0.0078 | 0.0114 | 0.0149 | 0.0244 | 0.0221 | 0.0257 | 0.0292 |
| Woodie | -0.0506 | -0.0214 | -0.0116 | 0.0176 | 0.0274 | 0.0567 | 0.0664 |
| DeMark | – | – | 0.0132 | 0.0244 | 0.0522 | – | – |
 Stock Makes a Big Move: Now What?){kind=link}