A stock trading in a range may not often interest investors but it should be noted that such stocks can often break out as well and hence, it may be a good time to look into the ArcWest Exploration Inc (OTCMKTS:SJRNF) stock today.
Trading Data
On Wednesday, SJRNF stock ended flat at $0.0599 with more than 2.80k shares, compared to its average volume of 1.9K shares. The stock has moved within a range of $0.0599 – 0.0599 after opening trade at $0.0599.
Major News
Yesterday, the ArcWest Exploration stock was trading in a range but it cannot be ignored that the company also made a key announcement with regards to its operations. The company noted that Wedgemount Resources Corp, its partners, had made an announcement with regards to the preliminary results from induced polarisation geophysical survey at a project owned by ArcWest.
The project in question is known as the Eagle copper gold project and is owned in its entirety by ArcWest Exploration. In the update provided yesterday, Wedgemount noted that it had identified certain drill targets at the property and in addition to that, went on to provide some key updates which could have a long term effect on the company’s prosperity.
The Chief Executive Officer and President of ArcWest Exploration, Tyler Rucks, spoke about it as well. He was optimistic about the results that had been published by Wedgemount yesterday.
Technical Data
SJRNF stock is trading above the 10-Day and 20-Day Moving averages of $0.0818 and $0.0865 respectively. However, the stock is trading below the 200-Day moving average of $0.0733. The stock is down 33% in the past month.
