Global Tech Industries Group Inc (OTCMKTS:GTII) Stock Goes Parabolic: Soars 85% in a Week

Over the course of the past week, the Global Tech Industries Group Inc (OTCMKTS:GTII) stock has been one of the more notable movers in the market and perhaps it is time for investors to take a closer look.

Market Stats

On Monday, GTII stock soared 14.30% at $1.36 with more than 1.48 million shares, compared to its average volume of 229k shares. The stock has moved within a range of $1.1500 – 1.6800 after opening trading at $1.30.

Key Trigger

The stock was in sharp focus yesterday after the company released the discussion within its management as well as an analysis of its financial situation on Monday. Investors piled on to the Global Tech Industries stock and sent it soaring by as much as 14%. The rally in the stock on Monday took its gains for the past week to as much as 85%.

Hence, it might be a good idea to perhaps take a look at the statement from Global Tech Industries on Monday. The company noted that earlier on in the year in February it had managed to execute a stock purchase deal by way of which it completed the acquisition of all outstanding and issued shares in the company Gold Transactions International Inc.

In addition to that, Global Tech Industries also signed up binding agreements with a total of three companies which are involved in eye care, telemedicine software and retail eye wear among others.

Traders Corner

GTII stock is trading above the 20-Day and 50-Day Moving averages of $0.86 and $1.05 respectively. However, the stock is trading below the 200-Day moving average of $1.47. The stock is up 85% in the past week.