Nutranomics, Inc. f/k/a Buka Ventures Inc (OTCBB:NNRX) Getting Heavy

86NNRX_chart.pngNutranomics, Inc. f/k/a Buka Ventures Inc (OTCBB:NNRX) has been climbing steadily for the past six sessions. While this performance certainly made shareholders happy, NNRX may find it difficult to support those levels.

Yesterday, NNRX added another 4.59% closing at $1.14 per share. The volume was also significantly above the average – approximately 4.5 million shares.

34GNIN.pngIn keeping with the company’s penchant for issuing numerous optimistic press releases, NNRX announced receiving an initial purchase order for a testosterone booster formula. The order is worth just $24 thousand, but Dr. Tracy K. Gibbs, CEO of NNRX, claimed it showed that the company’s Asian markets expansion strategy had been successful.

The press release is eerily similar to a number of announcements made by Green Innovations Ltd (OTCBB:GNIN), which was also pumped by the newsletters of the ECA Group. In time, as it became apparent that the company couldn’t meet the expectations created by its press releases, the price dwindled and it now trades around $0.12 per share.

On the day of the press release we also received an email about NNRX from Penny Stocks Forever. While it’s theoretically possible that the email had some effect on trading, it’s unlikely, because the newsletter hadn’t been compensated.

On the technical side, NNRX‘s run has driven the RSI close to the 80 mark, and this can also affect trading in the coming sessions.

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