SmokeFree Innotec Inc. (PINK:SFIO) stock continues to roll down, although the company released that the first supply of RE/AL products offered through the corporate website has been sold.
Most probably, after the huge spring rush of company's shares last month, the bullish mood of investor became resistant on any further news.
On Friday, when Mr. Roth, CFO of SmokeFree Innotec Inc. appealed to company's clients to be patient, until next product supplies arrive, holders on SFIO also prefer to be patient.
Shares' prise remained without change from the previous close during the trading session. Investors' activity was measured by the petty trading volume, which was eleven times less than the daily average for the company.
This week, bids on SFIO finally formed a red candlestick on the shares' price chart after two Dojis of concern.
Yesterday, SFIO closed the market being 3.26% thinner, like to confirm not as much investors' non appreciation towards the stock. Perhaps, most recent trading strategies are those, related to the minimizing of losses on SFIO after the “fire” last month, when SFIO shot 535% in three days time.
In addition, since than, investor had enough time to make more detailed due diligence on SFIO.
These days the performance of SFIO is poor. In mid May, as chart here shows, shares of SmokeFree Innotec Inc. in a short time became overbought. Looks similar to the company's first supply of product which “has been SOLD OUT!”, the overestimated SFIO has been sold out as well and now it is re-evaluated by investor.