Ecrypt Technologies Inc (OTCBB:ECRY) is starting the week off with a bang exploding upwards towards its all-time highs of $0.508 the price to beat and new magic tipping point. The stock is showing excellent support and massive volume as it continues to move upwards.
ECRY surpassed the $0.385 last week and exploded from there as expected. The stock lost its momentum after a negative Seeking Alpha article came out in tandem with a bear raid.
According to ECRY they are at the forefront of data security, specializing in military-strength information security solutions for enterprise, government and military.
Ecrypt Technologies Inc (OTCBB:ECRY) is the latest promotion from Stocktips who expects to receive $5,100,000 as a marketing budget for production and distribution of ECRY marketing material from 3rd party Laluna Services, Inc. according to the disclaimer.
StockTips gained prominence last year with when they announced TGRO as their new pick at $0.20 before it later ran to a high of $1.59. This was followed by ALKM which moved from pennies to $0.50 a share and WPWR which also made a big move from pennies to over $0.80 a share.
Stocktips only failure so far was PGFY which was halted and this caused significant losses for their following. Many investors have expressed fear that ECRY might get halted as well which is always possible but not likely.
ECRY exploded on the initial alert from Stocktips running to a high of $0.385 on November 19. The initial run up lost its momentum after ECRY management issued a press release distancing themselves from the $5.1 million dollar Laluna promotion.
Statler sounded excited this morning, he said ”ECRY is running! Hey Kids, Statler here 🙂 Are you Watching ECRY go BOOOOOOOOM?!?!?!? ECRY is closing on 0.50!!!! After a battle with the shorts for the first 15 min of the market, the shorts ran for cover!
Next stop 0.50?!? This is how we re-write the rule book! All eyes on ECRY right now – it is RUNNING! Offers are just moving out of the way as new retail investors take notice of ECRY and shorties run to cover their positions! If this keeps up could we see 0.50 by the first few bit of trading this morning?!?!?!
I would not doubt it for a second! Once we cross the 0.51 mark – I believe the gloves will come off for ECRY! Watch ECRY unfold! ECRY – enjoy your early Christmas present! Happy Trading,”
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The Company has been quiet since they commented on the stocks trading on November 19 when they said ‘’ Sources disclosing the Promotion indicate that Laluna Services Inc. (Laluna) engaged, and may compensate, the letter writer for the promotional campaign. The Company and its officers and directors do not know who beneficially owns controls or represents Laluna, or what interest Laluna has in promoting the Company’s shares. The Company and its officers and directors are unaware of any business reason for the sudden increase in market activity for its shares.’’
Currently trading at a $53 million market valuation ECRY has little fundamentals to back up this value and would not be trading anywhere near here if it was not the latest pick from Stocktips. Once the promo dollars run dry the stock will probably fall significantly from current levels. Short term however ECRY could continue on much higher.
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Statler said it himself ”Once we cross the 0.51 mark – I believe the gloves will come off for ECRY!” as I have been saying $0.508 is the new magic tipping point and the price for ECRY to beat; a break of all-time highs would be a huge win for shareholders and confirmation of another significant leg up.
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Disclosure: we hold no position in ECRY either long or short and we have not been compensated for this article.