Is the Bullish Run of GelTech Solutions Inc (PINK:GLTC) Strong Enough

Las Vegas, NV -- (SBWIRE) -- 03/19/2013 -- GelTech Solutions, Inc. (PINK:GLTC) made a strong bullish note in its last trading session. The share price not only sustained its bullish rally which has gained attention since February but also further reported the surge of more than 18 percent for the day. The stock price closed at $1.57 with traded volume of 392,704 shares which surpassed its average volume figure of 91,867 shares per day.

GelTech Solutions Inc’s total outstanding common stock accumulates up to 29.40 million shares out of which almost 12.18 million shares are floated in the stock market. Almost 36.81 percent of common stock is held by insiders. The company in the last month also sold 482,758 shares to its CEO and Chief Technology Officer and received $280,000 in return. Moreover, almost 1.428 million shares were sold to two more investors from which $500,000 and $450,000 were received.

The share price is also near its resistance level of $1.70 and now the big question is that will the stock be able to break its resistance level.

GelTech Solutions Inc is engaged in development and commercialization of environment friendly products globally and in United States. The company’s products include FireIce (a fire suppression and fire retardant product), FireIce HDU (a home defense unit), Soil20, SkinArmour and IceWear.

To find out what OTCMAGIC projects for GelTech Solutions Inc for both short term and long term please click here: GLTC

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