Validian Corp (OTCMKTS:VLDI) reported that it has associated with Solana Networks Inc. for the development, installation and support of its secure mobile and non-mobile offerings for the different industries like government, business, consumer and defense markets. The President of Solana, Nabil Seddigh, said that they have developed familiarity, experience and expertise regarding Validian’s technology and they see excellent potential in the services that Validian can deliver. These unique solutions are meant for business, government and consumer market.
Validian recorded an explosive, although extremely short up move on September 16, 2015 but as it turned out, it didn’t last even though the pump continued. At least ten promotional emails made their way into investor’s inboxes on Thursday, which makes a total of over fifteen emails in a matter of just two days. However, this massive pump failed to yield any results as no one was interested to buy what the pumpers were selling. Following this the stock declined on Thursday but made a comeback on Friday to close at $0.0500.
This is exactly more or less what happens of a stock that is targeted by pumps. Some prolonged touts successfully pushes stock price up day in and day out. A latest example for such a promotional campaign from the recent past is America Resources Exploration Inc. (OTCMKTS:AREN). It witnessed a roller-coaster ride for nearly two months.
However, it was a different case with Validian as the promotional campaign flared out too quickly, bursting and then collapsing in the span of just minutes. As its charts suggest, it all went downward from that point, and the stock momentum of Friday just indicates a small possibility of recovery in coming period.
Validian Corp (OTCMKTS:VLDI) formed a Star Doji candle pattern as it finished the last trading session with a nice gain of 8.70%. The final closing price of $0.05 coincided perfectly with the opening price of the day and reflected the indecision of the market participants. The volume pattern kept showing intense activity during the entire session with the volume of the day marking 4.9 million against the daily average of 1.2 million. The current price resides exactly at the mid-point of the long term range of $0.0250-$0.0750 and makes it nearly impossible to fix on a particular direction.