In the past week, the Defense Technologies International Corp (OTCMKTS:DTII) stock has been in the middle of a steady selloff and as a consequence, it has tanked by as much as 11%.
Market Action
On Tuesday, DTII stock ended flat at $0.0069 with more than 2.80 million shares, compared to its average volume of 1.33 million shares. The stock has moved within a range of $0.0065 – 0.0069 after opening trade $0.0069.
Recent News
While the decline in the stock may be quite alarming, it is also true that it could also be an opportunity for investors and it is perhaps a good time to figure that out. As a matter of fact, Defense Technologies International was in the news on Tuesday after it announced that its new marketing programme in collaboration with Passive Security Scan Inc has proven to be a success.
Passive Security Scan is a company that is best known for providing security technologies and systems that could be applied to diverse sectors.
Defense Technologies International noted that the public relations campaign that it had launched in relation to its new passive portal weapons detector proved to be a significant success. It was a major announcement from the company but the news did not lead to any change of fortunes for the Defense Technologies International. It is now going to be interesting to see if the stock rebounds in the coming days or not.
Key Quote
“The Passive Security Scan System will be used at the Police Department detention facility… It is time to take an extra precautionary step for inmates coming into the detention facility with possible contraband (guns, knives, etc.). Officers do their best with physical searches and the laws are rather limited on more invasive searches. Therefore, this piece of equipment will be perfect to place within the entrance of the detention facility to process inmates prior to their entering the area with other inmates. The Passive Portal Security Scan System includes a laptop/tablet to run the unit, plus two years of technical support.”
Traders Note
DTII stock is trading below the 20-Day and 50-Day Moving averages of $0.0082 and $0.0099. Moreover, the stock is trading below the 200-Day moving average of $0.0157. The stock is down 30% over the past month.
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