Itoco Mining Corp. (OTC Pink: ITMC) is engaged in the production, mining, and sale of conflict-free, Colombian Class 1 emeralds. Shares of the emerald mining company are diving 30%, through afternoon trading on Tuesday, March 14, 2017. Over the past month, Itoco Mining Corp. has seen average daily volume of 28,820 shares. However, volume of 630,155 shares or dollar volume of $74,988, has already exchanged hands Tuesday.
Shares of Itoco Mining Corp. are declining 30% today, after the company was apparently front run to the tune of approximately 1 million-shares, followed by a $32,500 promotion. The promotion mostly consisted on text notifications and a focus on technical analysis, which the promoter claims “offers a potential to see near 111% upside opportunity.” However, at this point, what we are seeing is shareholders purchasing front run stock and a strong 30% sell off. Here is a portion of the promoter’s “pitch”:
Itoco Mining Corp. Promotional Materials:
ITMC is flashing some technicals that you need to see with your own eyes.
ITMC closed on Yesterday at .142 cents. The gap between that and the 12-month high offers a potential to see near 111% upside opportunity.
ITMC may also offer some intra-day in the short term trading at an uptrending RSI of 59.
What’s more is the price per share broke above the Simple Moving Average (50) combined with an increase of volume.
ITMC is in the position of breaking above a resistance point that it has tested several times in the last few months. The difference is, this time there hasn’t been any where near the same volume.
ITMC just experienced an explosive volatility registering monumental volume compared to the previous 6 months.
ITMC technicals indicate a MACD flip that resembles similar characteristics with increased valuation on December 2 and further on.
The emeralds ITMC is producing are projecting to be the leading supplier of responsibly sourced Class 1 Colombian Emeralds.