NeoMedia Technologies, Inc. (OTCMKTS:NEOM) was in the special limelight on Thursday as the stock witnessed a huge rise in price along with massive volume. The stock has been gaining momentum over the past few trading sessions.
NEOM stock closed higher by a whopping 50% to $0.0027. What is more interesting is that the stock had witnessed its highest one-day volume since mid-February. Total volume for the session stood at 317.22 million shares, compared to its average volume of 21.33 million shares. The stock had started the session with a minor jump and picked up momentum in afternoon trading as the stock went up as much as 110% to the session high of $0.0038. The stock has been gaining momentum over the past few trading sessions and up 108% in the past week.
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.
But, one should note that the company does not have any active official website, and one needs to be careful while trading momentum-driven penny stocks. The company had a market capitalization of $13.74million (based on the closing price on July 7, 2021).
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | -0.0003 | 0.0008 | 0.0017 | 0.0028 | 0.0037 | 0.0048 | 0.0057 |
| Fibonacci | 0.0008 | 0.0015 | 0.0020 | 0.0028 | 0.0035 | 0.0040 | 0.0048 |
| Camarilla | 0.0022 | 0.0023 | 0.0025 | 0.0028 | 0.0029 | 0.0031 | 0.0033 |
| Woodie | -0.0012 | 0.0003 | 0.0008 | 0.0023 | 0.0028 | 0.0043 | 0.0048 |
| DeMark | – | – | 0.0023 | 0.0028 | 0.0043 | – | – |
 Stock More Than Doubled in a Week: What’s The Buzz?){kind=link}