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Pershing Gold Corporation Message Board

  • investora2z investora2z Mar 8, 2013 11:23 PM Flag

    Uptick in volumes and price

    Though the 10 day average volumes are much lower as compared with the 3 month figures, the trading volumes have definitely picked up over the last few days. This has led to around 10% rise in the stock price which indicates technical strength. The main reason for this could be the indication given by management that it intends to list the stock on major exchanges in the next few months. Obviously, the investors would like to cash in on the positive rub-off on the stock price expected due to this major event. The company also would like the strength to continue so that the price remains respectable. More importantly, the management is confident of start of production in 2014 and the expected turnaround in the fortunes of the company need to be encashed by the patient investors and the insiders holding the stock. These two events will take place within the next one year to 18months. This makes the current levels a good start point for buying the stock. Of course, one can keep a close watch on what the management has to say on the production and the listing front from time to time. The expected results of Q4 2012 will also be a good indicator of what lies ahead. Upticks on the volume front do indicate that things are better for the stock. One should keep a watch on this front and also see if the stock is able to cross $0.52 level and sustain above it with volumes. That will be a major signal of strength. The current levels of $0.49 are, therefore, not too far from the crucial resistance. In fact if it crosses above $0.60 level with volumes, the decks could be clear for PGLC to reach the recent highs of $0.97. The odds are in favor of this happening if the $0.60 is crossed decisively.

0.348+0.027(+8.35%)Jun 2 3:58 PMEDT