If you are currently on the lookout for stocks which may have recorded considerable gains in recent days then it may be the right time to take a closer look at the Location Based Technologies Inc (OTCMKTS:LBAS) stock.
On Friday, LBAS stock soared 23.68% to $0.0235 with 473K shares, compared to its average volume of 248K shares. The stock has moved within a range of $0.0187 – 0.0250 after opening trade at $0.0187.
Last Friday, the stock was in the middle of a strong upward move and ended the day with gains of 24%. That took the gains made by the stock to as much as 59% for the past week. Not too long ago the company had been in the news after it emerged that the attorney of record of the company had sent in a letter to the OTC Markets with regards to disclosure statements that could help the company with the Pink Basic Disclosure Guidelines.
It was a significant development for the company and hence, the bullish sentiments about the Location Based Technologies stock were perhaps understandable. The company is involved in the designing, sales and development of wearable global positioning system tracking products. The products are run on the GSM Network that is owned by Location Based Technologies. In light of the considerable gains recorded by the stock in recent times, it might be the right time to add the stock to your watch lists.
LBAS stock is trading above the 20-Day and 50-Day Moving averages of $0.0180 and $0.0203 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 59.