OPTEC International Inc (OTCMKTS:OPTI) Stock Makes Bullish Move: Jumps 37%

OPTEC International Inc (OTCMKTS:OPTI) was one of the biggest winners in a week that most counters came under pressure tanking amid renewed COVID-19 fears. The stock jumped 36% last week, helping catapult the stock from all-time lows.

Market Stats

On Friday, OPTI stock surged 37% at $0.0130 with more than 55.22 million shares, compared to its average volume of 24.43 million shares. The stock has moved within a range of $0.0090 – 0.0135 after opening trading at $0.0099.

Recent News

OPTEC is a developer and manufacturer of the OPTEC Fuel Maximizer products along with electronic LED Ultraviolet. The company has also launched a Temperature Scanning product line crucial to keeping the environment safe during the global pandemic.

The stock has underperformed the overall market in the second half of the year after a 300% plus rally early in the year. Before the 36% jump last week, OPTEC International had shed more than 70% in market value from all-time highs of 0.44 registered in February.

The 36% plus bounce back last week comes on the heels of the company filling its 10K annual report within the specified timeline along with other relevant supporting documents. Additionally, the company has confirmed that CEO Roger Pawson is poised to retire from the Board of Directors early next year due to ongoing health issues.

Traders Corner

OPTI stock is below the 20-Day and 50-Day Moving averages of $0.0128 and $0.0195 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0772. The stock is down 22% in the past month.