Sycamore Entertainment Group (OTCMKTS:SEGI) Falls Back to Earth After Explosive Increase in Market Valuation
Northern, WI 06/11/2013 (GDPInsider) – Sycamore Entertainment Group (OTCMKTS:SEGI) has had swift reversal of fortune in recent trading after soaring to a massive 87.50% in trading the day before. The stock started today’s trading session at 0.013, 0.001 cent down on its previous close of 0.014 and closed down 42.86%.
Investors rushed in today, causing a massive uptick in the trading volume of SEGI. By the close of play, a whopping 97.038 million shares had changed hands – this figure represented a massive 2,850.15% increase on average volume of 3.289 million.
SEGI’s massive surge in investor interest, whilst a marked climb on average activity, has not caused the stock to breach its strong technical setup. The stock is still trading above its SMA50 of 0.0005 and RSI is still pretty much neutral at 56.51.
SEGI is a is an independent film marketing and distribution company focused on acquiring and marketing theatrical releases in the North American marketplace. The company acts predominantly as a motion picture distribution company and provides the entertainment industry with key services including acquiring films and creating marketing materials necessary for release into all formats.
The summer movie season is upcoming, and although SEGI may not be able to influence the production phase of big-movie making, its services on the distribution space may end being tapped by the major Hollywood studios.
The company has 91.04 million shares outstanding and the EPS is presently sitting at -0.04. The recent headwinds come on the heels of strong trading which has seen SEGI rally 166.67% on its 52-week low of .0.0003.
SEGI’s recent uptrend is pushing it towards its first resistant point of 0.0015 where bullish investors are in line to see even more gains.
Is SEGI a solid investment at these levels? Get exclusive data and trends here.
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