Li-ion Motors Corp (OTC:LMCO) Stock Flashes Overbought Green On Promo Racing

After the Earth Day Celebration, yesterday Li-ion Motors Corp (OTC:LMCO) stock celebrated its next green record. LMCO shares exploded up 35.37% with the highest volume traded for the last five years. The green line was flashed by the continuing stock promotional campaign. But green is never “ever green”.

LMCO shares, traded under $5, jumped by $0.38, or 20.65%, to $2.22 in the session. The volume traded was more than 1 million. This was ten times the three month average volume traded.

The main factor, that turned the green line for LMCO stock was stock promotions. The aggressive stock promotion campaigns, accompanied by PR events, like participation of LMCO in the Earth Day celebration a few days ago, were the only events related to the company’s development.

The chart here and the list of promotions presented, clearly show the linear dependance between them and the huge stock rush.
Li-ion_Motors_Corp_promotions_list.pngThe compensation that stock promoters will receive for the increase in investor awareness is ten thousand dollars per promoter.

It is difficult to predict how this going green racing of LMCO stock will continue. Maybe a lot of investors will count profits. Some of them will be disappointed by loses for sure.

The technical indicators show, that maybe soon, the green flashing will stop. As the chart here shows, the RSI for LMCO stock reached 86.06 yesterday. This may mean that LMCO shares are getting overvalued and ready to rout the trend.[BANNER]


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