The week started off on a highly positive note for Cytta Corp (OTCMKTS:CYCA) shareholders as the stock rallied strongly on Monday and ended the day with gains of as much as 32% amidst heavy action.
Market Reaction
On Monday, CYCA stock surged 32.32% to $0.2448 with more than 799K shares, compared to its average volume of 89K shares. The stock moved within a range of $0.2100 – 0.2590 after opening trade at $0.21.
Cytta Corp’s Drone Clear Featured in DroneLife
The company announced yesterday that its Incident Global Area Network or IGAN video integration technology had been the subject of a feature in the magazine DroneLife. It was a significant development considering the fact that DroneLife holds the status of being the magazine of record for the drone industry at large. The technology in question is meant for powering the ‘DroneClear’ police room and building clearing protocol.
In the aforementioned feature in the DroneLife magazine, written by Jim Magill, it was noted that the Unmanned Aircraft Systems of the Dallas Police Department had been using the DroneClear technology from Cytta Corp. Such positive publicity can be a big boost for any company and could even lead to new business. Hence, the optimism among investors was perhaps understandable. At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and keep an eye on further developments over the coming days.
Traders Review
CYCA stock is trading below the 20-Day and 50-Day Moving averages of $0.21 and $0.24 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.20.
