Solis Tek Inc (OTCMKTS:SLTK) Downgraded Target 80c
Barry Davis
Owner of HoTstocks.NYC with 59Years Experince, Most similar to Cramer on Wall Street
In the first quarter 2017, the Company issued 300,000 shares of common stock for services provided. The Company granted 5,411,765 common shares to Dennis G. Forchic, its new CEO in accordance to the terms of his Employment Agreement. An additional 784,314 shares of common stock was also issued to Dennis G. Forchic for a consideration of $100,000 under the terms of his Employment Agreement. The Company also issued 312,500 shares under the terms of a Private Placement Offering for a consideration of $250,000 valuing the stock at less than 80c once considering the cost of the raise.
Given the constant issuance of stock and the inability to turn a profit Solis Tek Inc (OTCMKTS:SLTK) has been Downgraded.
SOLIS TEK INC closed down -0.001 at 1.199. Volume was 89% below average (consolidating) and Bollinger Bands were (*ERROR*: Function did not return a value)% (*ERROR*: Function did not return a value)
Open High Low Close Volume___
1.250 1.250 1.199 1.199 1,607
Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.23 1.13
Volatility: 68 156
Volume: 14,256 23,711
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
SOLIS TEK INC is currently in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into SLTK.PK (Turning Bearish). Our trend forecasting oscillators are currently bearish on SLTK.PK and have had this outlook for the last 2 periods.
Current Statistics
Close: 1.199
Change: -0.001
MACD Value: 0.016
Signal Line: 0.043
The MACD can provide buy/sell indications in three ways, signal line crossovers, overbought/oversold conditions, and divergences.
Crossovers
Currently the MACD is bearish since it is trading below its signal line.The MACD crossed below its signal line 11 period(s) ago. Since the MACD crossed its moving average, SOLIS TEK INC’s price has decreased 8.46%, and has ranged from a high of 1.410 to a low of 1.040.
Overbought/Oversold
The MACD is not in an Overbought/Oversold range.
Divergence
There have been no divergence signals within the last 5 periods.