New York, NY - July 11, 2017 - InvestorsHub NewsWire - Wall Street Corner Report
Ciao Group, Inc. (USOTC: CIAU) technical trading indicators are currently signaling VERY BULLISH according to Stock Technical Analysis (www.stockta.com/) even though the PPS has trended substantially down over the past week of trading. In the 30 days prior to the last week PPS decline, CIAU stock went up 900% from $0.05 to a high of $0.50. During the historically market lite July 4th vacation week, the PPS has retraced on a lower volume of trading down to a PPS of $0.12 by $0.14. Mind you, this PPS is still over 100% higher than the where it started 30 days ago. While a 900% increase is exciting, it’s unlikely to continue without periodic profit taking. With big swings up, one should expect big swings down. Even after a big swing down, CIAU is still well in the profit zone after its previous run. With the trading indicators signaling VERY BULLISH, CIAU could well be preparing to run again. CIAU could experience a number of big up and down swings until it finds its sweet spot. This could be a great opportunity to profit on the swings.
Ciao Group recently announced a refreshed business plan to concentrate on developing locally sourced technology and telecommunication services within frontier and emerging economic markets. The Company is in the process of changing its name to NuMelo Technology as part of the business plan refresh. The Company has recently hired Henryk Dabrowski, the exiting CEO from Alternet Systems, (ALYI) to lead the Companies introduction of its own digital coin. The Company has also engaged to assit North American Cannabis Holdings, Inc. (USMJ) in the introduction of a digial coin for the marijuana market.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.